Visa expands stablecoin offerings amid rising competition from institutions

Visa, Mastercard, tech firms and banking institutions are all exploring ways of using blockchain technology for payments and settlement.

Payment company Visa expanded stablecoin offerings on its settlement platform by adding support for Global Dollar (USDG), PayPal USD (PYUSD), Euro Coin (EURC) and two new blockchain networks, Stellar and Avalanche.

The integration allows users to send and receive stablecoin payments through the supported blockchain networks or convert their balances to traditional fiat currency, Visa said in a press release on Thursday.

Visa already offered support to Circle’s USD Coin (USDC) stablecoin, while supported networks for transfer and settlement include Ethereum, Solana and the newly added chains.

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