Visa announced a significant expansion of its stablecoin infrastructure, enabling acceptance of four stablecoins on four different blockchains.
The move, revealed during the company’s fourth quarter 2025 earnings call on October 28, 2025, aims to streamline payments, settlements and conversions between stablecoins and more than 25 traditional fiat currencies.
It builds on Visa’s existing crypto initiatives, including a pilot for cross-border stablecoin payments launching in September 2025. Supported stablecoins: USDC (USD Coin), EURC (Euro Coin), PYUSD (PayPal USD), and USDG (Global Dollar).
Ethereum, Solana, Stellar and Avalanche.
Currencies represented: These stablecoins are linked to two main currencies – USD and EUR – allowing seamless conversion to fiat currency for traders and users.
Register for Tekedia Mini-MBA edition 19 (February 9 – May 2, 2026): big discounts for early birds.
Opening of the Tekedia AI in Business Masterclass registrations.
Join Tekedia Capital Syndicate and co-invest in major global startups.
Register for Tekedia AI Lab: From technical design to deployment (starts November 15).
Visa reported that stablecoin-related card spending quadrupled year-over-year in the fourth quarter of 2025, with monthly volumes reaching an annualized rate of $2.5 billion. Since 2020, the company has facilitated over $140 billion in crypto and stablecoin flows, including $100 billion in purchases using Visa credentials.
This integration allows businesses and banks to settle payments on-chain while leveraging Visa’s global network, reducing friction in cross-border transfers and merchant settlements.
More than 130 stablecoin-linked Visa card programs now operate in over 40 countries. By supporting multi-chain stablecoins, Visa is creating hybrid payment rails that combine the speed and low costs of blockchain with the reach and compliance of traditional finance.
Recent clarity in US regulation on USD-pegged stablecoins has accelerated institutional adoption, putting Visa ahead of competitors like Mastercard. This could allow banks to create their own stablecoins through Visa’s tokenized assets platform, further blurring the lines between fiat and crypto.
Visa has invested in blockchain startups like Chain for B2B Connect, a cross-border settlement tool and explored platforms like Interbit to reduce friction in bank transfers. In 2021, it began settling USDC transactions on Ethereum, becoming one of the first major networks to do so.
Stablecoin Expansion (2023-2024): Visa has piloted settlements on Solana, processing over 2,000 TPS at low cost and expanding to issuing/acquiring partners. It has settled over $225 million in USDC transactions on Ethereum and Solana, highlighting the role of stablecoins in 24/7 real-time global transfers.
Launch of the Visa Tokenized Asset Platform (VTAP): A B2B tool for banks to issue and manage fiat-backed tokens on public/permissioned blockchains. Features include smart contract integration for automated tasks such as instant credit lines and interoperability between networks. BBVA has tested VTAP in a sandbox and plans a live pilot on Ethereum in 2025 with selected customers.
Analysts see this as an important step for traditional blockchain payments, potentially increasing liquidity and reducing volatility concerns for merchants. Banks no longer need to maintain crypto or run nodes. They go up the chain, pay via Visa and remain 100% compliant with the law.
Example flow Banco Santander issues “SANT-USD” on Solana, customer deposits $10,000? Vault of Santander. The bank calls VTAP? mints 10,000 SANT-USD on Solana. Customer spending at Starbucks? Visa converts SANT-USD? USD? merchant fiat. The trader never sees any crypto. The bank earns 0.15% exchange + 0.05% exchange spread.
Banks can issue USD stablecoins without prior approval if reserve 1:1 + monthly certifications. EUR-pegged e-money tokens = fully licensed under the EMI framework. In the United Kingdom, “Bank-Issued Digital Cash” = isolated from cryptocurrencies in Singapore; Tier 1 banks can issue SGD stablecoins on authorized chains.
Visa handles Travel rule reporting and control of sanctions at the regulation level? banks are avoiding on-chain compliance teams.
Automatic visa freeze + forced burn at 0.995. B2B banking perspective replace SWIFT with SANT-EUR? EURC? Fiat in 3 seconds.
Bank problem, Visa settling in? zero crypto operations overhead. Profit per billion dollars issued: 17 to 40 million dollars/year? an irresistible economy. Each major bank runs its own stablecoin on Visa rails? crypto becomes invisible infrastructure. Long bank tokens with high trading and lending margins (e.g. JPMD, SCBD).
Purely short stablecoins (USDC, USDT) after 2027 as bank tokens capture yield.
Build on the VTAP API, the new Stripe for banks. The future of money is not about cryptocurrency or fiat currency. These are stablecoins issued by banks on the Visa rails.
