Visa (V) is expanding its push into stablecoins by adding support for five more blockchains as it leans toward a multi-chain approach to global payments.
The payments giant said Wednesday that its stablecoin settlement pilot now spans nine networks and has reached an annualized run rate of $7 billion, up 50% from the previous quarter. The program allows issuers and acquirers to settle transactions using stablecoins instead of traditional banking barriers.
Newly supported blockchains are Base, Polygon, Canton Network, Circle’s Arc, and Coinbase’s Stripe-backed Tempo, joining existing integrations with Ethereum, Solana, Avalanche, and Stellar.
Visa’s move comes as stablecoins (cryptocurrencies with prices tied to fiat money) are gaining traction as a way to move money across borders. Visa has been testing that model through pilot programs and regional rollouts, including USDC settlement tied to card programs in more than 50 countries.
Instead of waiting days for funds to move through banking systems, partners can settle transactions using blockchain-based dollars that move in near real time. By supporting multiple networks, Visa aims to provide partners with access to different liquidity pools without additional complexity.
“Our partners are building in a multi-chain world and expect their options to reflect that reality,” said Rubail Birwadker, global head of growth products and strategic partnerships at Visa. “Expanding our stablecoin settlement pilot program to more blockchains means our partners can choose the networks that best fit their needs, while relying on Visa to provide a common settlement layer across them.”
