Visa expands robust stablecoin infrastructure, adding support for Avalanche and Stellar

Visa has just announced the expansion of its stablecoin payment system by adding support for three new tokens (PYUSD, USDG, and EURC) along with two blockchains, Avalanche and Stellar. This is a significant step following the official enactment of the GENIUS Act in the U.S. – the first comprehensive legal framework for stablecoins.

Previously, #Visa only supported stablecoin transactions via Ethereum and Solana. With the addition of Avalanche (AVAX) and Stellar (XLM), this payment giant is gradually building a comprehensive stablecoin payment network to meet the growing demand from financial institutions and large enterprises.

A Visa representative emphasized: “As stablecoins become reliable, scalable, and interoperable, they will change how global cash flow operates.”

Stablecoins were initially used by traders to circulate capital without going through banks. However, now organizations like Meta, Amazon, and even states in the U.S. are seeking to issue #stablecoin to expedite payment speeds.

Visa's active integration of stablecoins comes at the right time with the signing of the GENIUS Act, which clearly stipulates standards for issuance, reserves, and auditing of stablecoins – a significant advancement that brings stablecoins closer to widespread recognition in the global financial system.