Visa Expands Stablecoin Settlement Pilot to Nine Blockchains, Annualized Volume Hits $7 Billion

Visa said on April 29 it has expanded its stablecoin settlement pilot by adding support for Base, Polygon, Canton Network, Arc, and Tempo, the latter two backed by Stripe. The move brings the total number of supported blockchains to nine. Visa previously supported Ethereum, Solana, Avalanche, and Stellar. The company said the program's annualized transaction volume has reached $7 billion, up 50% from the prior quarter. The initiative allows card issuers and acquirers to settle transactions directly in stablecoins instead of using traditional bank clearing systems. Rubail Birwadker, Visa's Head of Global Growth Products and Strategic Partnerships, said partners are operating in a "multichain world," and Visa wants to broaden access to liquidity by supporting more networks while acting as a unified settlement layer that coordinates across chains.