International payments firm Visa has expanded stablecoin support with USDG, and PYUSD while adding Stellar and Avalanche to boost onchain settlement options.
By Godfrey Benjamin
Editor Hamza Tariq
Updated
3 mins read
American tech giant Visa Inc. is pushing further into the stablecoin payments niche. The company has added new support for USDG and Paypal USD (PYUSD) through a partnership with Paxos, offering more ways to settle transactions using digital dollars.
This move is poised to increase the competition among stablecoin issuers in the United States.
According to its official statement, Visa has teamed up with Paxos to bring USDG and PYUSD, two stablecoins backed by U.S. dollars, onto its settlement platform.
This move is in response to rising interest from fintech and crypto companies that want faster ways to move money without relying only on banks.
As disclosed, many of these companies are already working with the Global Dollar Network, which promotes the use of digital dollars across borders. It is worth noting that this partnership adds to the growing list of collaborations Visa has embarked on this year.
In January, Elon Musk’s X partnered with Visa to develop a future payment system under the X Money project.
Cuy Sheffield, who leads crypto efforts at Visa, explained that the company is trying to meet the growing demand for onchain settlement. He said Visa’s goal is to give partners more choices beyond just one or two coins.
By adding USDG, Visa is offering an option that could compete directly with RLUSD and similar tokens trying to become popular in digital payments.
For years, Visa has helped banks and businesses settle transactions in traditional currencies. Now, the company wants to do the same for digital currencies.
Visa has already processed hundreds of millions of dollars in stablecoin payments. The addition of USDG marks another step toward building a wider system for onchain settlement.
In addition, the move also builds on earlier work with Circle, the company behind USDC. That partnership brought USDC to Visa’s platform. However, now, Visa is going beyond just one coin and one company.
In related news, Western Union is becoming bullish on stablecoins. CEO Devin McGranahan said the company plans to integrate them into its global payments system. This move shows growing confidence in stablecoins as U.S. regulations begin to shift.
More importantly, Visa is not stopping with just USDG. The company also added support for two new blockchains, Stellar XLM $0.40 24h volatility: 4.8% Market cap: $12.46 B Vol. 24h: $501.34 M and Avalanche AVAX $22.52 24h volatility: 4.7% Market cap: $9.51 B Vol. 24h: $684.24 M . According to the update, these networks will allow Visa to process more stablecoin payments, starting with USDC.
For the first time, Visa is also adding EURC, a euro-backed stablecoin. This is the company’s first non-USD coin on its platform.
Visa’s long-term plan is to support many stablecoins, from different blockchains, and in other currencies. Sheffield said the aim is to build a system that works for partners wherever they are.
With developers creating new apps and card products tied to stablecoins, Visa is preparing for broader use.
Stablecoin integration is no longer a test for Visa, it is now a core part of its payment plans. As the company adds more coins and chains, it is becoming increasingly clear that stablecoins are here to stay.
Meanwhile, some market participants see this Visa stablecoin expansion as pivotal. For them, the move gained more weight after President Trump signed the GENIUS Act into law. The bill is aimed at supporting blockchain innovation with a focus on stablecoin.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
