Visa Expands Stablecoin Pilot to Polygon and New Chains as Settlement Trials Grow
- Visa has expanded its stablecoin pilot to nine blockchains, adding networks like Polygon, Base and Canton.
- The programme has reached a US$7 billion (AU$9.8 billion) annualised run rate, growing 50% quarter-on-quarter.
- The initiative tests whether stablecoins can improve settlement speed, availability and cross-border efficiency.
Visa has expanded its stablecoin settlement pilot to include additional blockchain networks, advancing its efforts to integrate digital assets into payment infrastructure. The programme now spans nine blockchains, following the addition of Polygon, Base, Canton Network, Arc and Tempo to previously supported networks such as Ethereum, Solana, Avalanche and Stellar.
Alongside this expansion, the pilot has reached an annualised settlement run rate of US$7 billion (AU$9.8 billion), representing 50% growth over the prior quarter. The increase points to growing adoption among financial institutions and fintechs, although the scale remains limited relative to Visa’s broader payments business.
Related: Quantoz Joins Visa as Principal Member to Power Stablecoin-Linked Debit Cards in Europe
Stablecoin Settlement to Streamline Global Payments
The initiative, launched in 2023, allows partners to settle transactions using stablecoins instead of traditional banking systems. Visa is using the pilot to evaluate whether blockchain-based settlement can provide faster processing, round-the-clock availability and greater efficiency in cross-border payments.
Supporting multiple blockchains aligns with a shift towards a more fragmented but interconnected payments ecosystem, where liquidity is distributed across various networks. Visa’s role is to provide a consistent settlement layer that reduces complexity for partners operating across these environments.
The company has also carried out regional pilots and expanded USDC settlement tied to card programmes in over 50 countries. Through these developments, Visa continues to test how stablecoins can complement existing payment rails while maintaining established standards of reliability and scale.
Related: Polygon Moves Into Regulated Payments With $250M Acquisition Spree
The post Visa Expands Stablecoin Pilot to Polygon and New Chains as Settlement Trials Grow appeared first on Crypto News Australia.
You May Also Like
Twenty One Capital seeks mergers with Strike and Elektron to build premier Bitcoin platform
Daily Market Update: BTC Slides to $75K as Oil Hits Four-Year High and Tech Earnings Divide Wall Street
