PANews reported on October 29th that, according to The Block, debit and credit card giant Visa plans to support multiple stablecoins to increase payment settlement and fund transfer options on the Visa network. Visa CEO Ryan McInerney stated during Tuesday's fourth-quarter earnings call, "We are adding support for four stablecoins that operate on four different blockchains, represent two currencies, and we can accept and convert them to more than 25 traditional fiat currencies." Furthermore, McInerney emphasized that "in the fourth quarter, Visa card spending pegged to stablecoins quadrupled compared to the same period last year." McInerney also stated on Tuesday that Visa has facilitated over $140 billion in cryptocurrency and stablecoin flows since 2020. He added that this includes users purchasing over $100 billion in cryptocurrency and stablecoin assets using Visa credentials, and that Visa currently has over 130 stablecoin-linked card issuance programs in more than 40 countries, and that Visa has begun allowing banks to mint and burn their own stablecoins.PANews reported on October 29th that, according to The Block, debit and credit card giant Visa plans to support multiple stablecoins to increase payment settlement and fund transfer options on the Visa network. Visa CEO Ryan McInerney stated during Tuesday's fourth-quarter earnings call, "We are adding support for four stablecoins that operate on four different blockchains, represent two currencies, and we can accept and convert them to more than 25 traditional fiat currencies." Furthermore, McInerney emphasized that "in the fourth quarter, Visa card spending pegged to stablecoins quadrupled compared to the same period last year." McInerney also stated on Tuesday that Visa has facilitated over $140 billion in cryptocurrency and stablecoin flows since 2020. He added that this includes users purchasing over $100 billion in cryptocurrency and stablecoin assets using Visa credentials, and that Visa currently has over 130 stablecoin-linked card issuance programs in more than 40 countries, and that Visa has begun allowing banks to mint and burn their own stablecoins.
Visa plans to add support for multiple stablecoins, and related spending increased fourfold last quarter
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PANews reported on October 29th that, according to The Block, debit and credit card giant Visa plans to support multiple stablecoins to increase payment settlement and fund transfer options on the Visa network. Visa CEO Ryan McInerney stated during Tuesday's fourth-quarter earnings call, "We are adding support for four stablecoins that operate on four different blockchains, represent two currencies, and we can accept and convert them to more than 25 traditional fiat currencies." Furthermore, McInerney emphasized that "in the fourth quarter, Visa card spending pegged to stablecoins quadrupled compared to the same period last year."
McInerney also stated on Tuesday that Visa has facilitated over $140 billion in cryptocurrency and stablecoin flows since 2020. He added that this includes users purchasing over $100 billion in cryptocurrency and stablecoin assets using Visa credentials, and that Visa currently has over 130 stablecoin-linked card issuance programs in more than 40 countries, and that Visa has begun allowing banks to mint and burn their own stablecoins.
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