The Visa (V) Global Payment Supplier is expanding its Stablecoin liquidation platform to new block chains and Stablecoins, the company announced Thursday.
The firm will now support two dollar rays, Paypal USD (Pyusd) and Global Dollar (USDG), through an association with paxos. It is also adding the ERC supported by euro, issued by Circle Internet (CRCL), giving partners access to liquidation in both US dollars and euros.
Two new blockchains, Stellar (XLM) and Avalanche (Avax), will join the existing visa support for Ethereum (ETH) and Solana (Sol). With the additions, the company’s liquidation platform admits four stablecoins, including USDC, in four blockchains.
The update occurs as Stablecoins gains traction between payment providers, fintechs and banks looking for faster cross -border transactions. A giant in traditional payments, Visa was one of the first teams in the Stablecoin space, exploring settlements with USDC in 2020. Last year, the company presented a tokenization platform for banks and institutions to help broadcast tokens and stable.
With the support of multiple stable and chains, Visa aims to reduce the friction of wallets and developers and respond to the growing demand for interoperable stable payments.
“We believe that when Stablecoins is reliable, scalable and interoperable, they can fundamentally transform how money moves worldwide,” said Rubail Birwadker, head of global visa growth products and strategic associations. “Visa is building a base of multiple coins and multiple chains to help meet the needs of our partners worldwide.”
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