Pilot Programme Hits $7 Billion Run Rate
Visa has announced the expansion of its stablecoin settlement pilot to include five additional blockchains, bringing its total to nine. This development, revealed on 29th April, has increased the program’s annualised settlement run rate to $7 billion, a 50% increase from the previous quarter.
The newly supported blockchains are Arc, Base, Canton, Polygon, and Tempo. Arc, created by Circle, is an open Layer-1 blockchain designed to integrate programmable money with real economic activities. Base, powered by Coinbase, focuses on fast and low-cost settlement. Canton offers privacy for regulated markets, while Polygon delivers high-speed, low-cost transactions. Tempo emphasises efficient stablecoin liquidity movement.
These additions aim to enhance Visa’s multi-chain settlement capabilities, offering more options for issuers and acquirers in the growing stablecoin market. “Our partners are building in a multi-chain world, and they expect their options to reflect that reality,” said Rubail Birwadker, Global Head of Growth Products and Strategic Partnerships at Visa. He highlighted the importance of providing a common settlement layer across various networks.
Stablecoin Adoption and Future Prospects
Stablecoins have transitioned from a novel innovation to a practical solution for global money movement, with Visa’s settlement pilots playing a crucial role in streamlining operations for partners. Recently, the programme expanded its reach across regions like Europe, Central and Eastern Europe, Middle East, and Africa.
According to Jesse Pollak, Founder of Base, “Visa’s expansion is a pivotal step in making stablecoin payments a daily reality for billions of people, enabling a faster, cheaper, and more useful financial system for everyone.” Visa’s stablecoin settlement pilot now supports major blockchains including Avalanche, Ethereum, Solana, and Stellar, alongside the new additions. As the ecosystem evolves, Visa continues to focus on bridging traditional finance and blockchain-based systems, ensuring reliability and security.
Visa’s ongoing pilots have been instrumental in demonstrating the practical benefits of stablecoins. Over the past year, these pilots have paved the way for stablecoins to become a reliable option for cross-border payments. The company has conducted live pilots and regional rollouts across Latin America, Asia Pacific, and CEMEA. These efforts are helping institutions streamline their operations in the digital finance landscape.
As of now, Visa’s stablecoin-linked card programmes have expanded to over 130+ countries, reflecting the increasing demand for digital payment solutions. With these expansions, Visa is setting the stage for a more interconnected global financial system.
