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Visa, one of the world’s largest payment companies, is all set to support four stablecoins on four different blockchains as it looks to expand its services in the space.
Visa To Expand Stablecoin Support
During Visa’s fourth-quarter earnings call on Tuesday, CEO Ryan McInerney said that it plans to continue expanding its stablecoin services after seeing strong growth over the past year.
“We are adding support for four stablecoins, running on four unique blockchains, representing two currencies, that we can accept and convert to over 25 traditional fiat currencies,” McInerney said.
McInerney noted that spending on Visa cards connected to stablecoins in Q4 was four times higher than it was a year earlier. Visa has also expanded the number of supported stablecoins and blockchains, with monthly transaction volumes now reaching an annualized r
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