Visa adds support for three stablecoins, as well as Avalanche and Stellar networks

Adapt or die. The trend for stablecoins has forced major players such as Visa to adopt blockchain solutions more actively.

Since the end of July, Visa has started supporting the Avalanche and Stellar networks, as well as three stablecoins: PayPal USD (PYUSD, market capitalization of $1 billion), Global Dollar (USDG, market capitalization of $326 million), and Circle’s EURC (market capitalization of $206 million). Visa has previously added support for Ethereum and Solana blockchain networks.

This news comes on the heels of the adoption of GENIUS Act— the first federal law defining a regulatory framework for payments using stablecoins. The law requires full reserve funding, compliance with Know Your Customer» (KYC) and anti-money laundering (AML) requirements, and issuer oversight.

Also in June Mastercard has joined the global dollar network Paxos to add USDG, USDC, PYUSD, FIUSD stablecoins.

Source: Visa