Visa is supporting four stablecoins on four different Blockchains.

[Visa is supporting four stablecoins on four different blockchains] To increase the ways of payment settlement and fund circulation within the Visa network, this debit and credit card giant plans to support multiple stablecoins. Ryan McInerney, the CEO of Visa, stated during the Q4 earnings call on Tuesday: “We are adding support for four stablecoins, which operate on four unique blockchains corresponding to two currencies; we can accept these stablecoins and convert them into over 25 traditional fiat currencies.” In addition, McKinney emphasized that “in the fourth quarter, spending on Visa cards related to stablecoins increased threefold compared to the same period last year (Note: quadrupled means an increase to four times, which is a year-on-year growth of 300%).” Like many other traditional financial institutions and payment companies, Visa has also seen greater development potential in stablecoins, especially after regulatory clarity was established for USD-pegged tokens in the United States. Although Visa has previously established partnerships with native cryptocurrency companies, in September of this year, the company launched a pilot project to test the use of stablecoins for cross-border payments, providing businesses with a faster way to transfer funds overseas.