Visa’s Crypto Gambit: Four Stablecoins, Four Blockchains, and a Dash of Chaos!

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Global payments giant Visa, that paragon of financial virtue, has embarked on a new quest to support four stablecoins across four “unique blockchains,” as if the world needed more digital alchemy. 🧙‍♂️💸

Visa CEO Ryan McInerney, a man who could probably sell a brick to a bricklayer, told investors that the firm will continue expanding its crypto services, because who doesn’t want to watch a $140 billion dance of digital confetti? 🎉

“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.” – A statement so vague, it could be the opening line of a mystery novel. 📖

McInerney, ever the enigma, did not share details on the stablecoins or networks, but the move will surely make blockchain enthusiasts weep with joy. 🥺

Visa already backs stablecoins, including Circle’s USDC and Euro Coin, along with PayPal USD and Global Dollar, on Ethereum, Solana, Stellar, and Avalanche. A veritable circus of digital currencies. 🎪

McInerney said the firm sees “particular momentum with stablecoins,” as if the $140 billion in crypto flows since 2020 were a mere footnote in a 1000-page book. 📚

In terms of growth, he said that global consumer spending within Visa’s stablecoin-linked card services increased fourfold, a number so absurd, it makes a liar out of the moon. 🌕

“We expanded the number of stablecoins and blockchains available for settlement, and monthly volume has now passed a $2.5 billion annualized run rate,” he added, as if this were a bedtime story. 📖

Visa doubles down on stablecoin banking

McInerney suggested key areas of focus for Visa will be to broaden its stablecoin offerings for banks and other traditional financial institutions, as if they needed more reasons to panic. 🧱

The process started in late September via a Visa Direct pilot program enabling banks and financial institutions to pre-fund cross-border payments using USDC and EURC. A move so bold, it’s practically a revolution. 🚀

The next stage, according to McInerney, will be to continue enhancing and investing in its solutions layer, enabling the firm to offer more features to its clients and partners, with a concrete example being the minting and burning of stablecoins. A process as mystical as it is mundane. 🧙‍♂️

“We are starting to enable banks to mint and burn their own stablecoins with the Visa tokenized asset platform, and we are adding stablecoin capabilities to enhance cross-border money movement with Visa Direct.” – A promise so grand, it’s practically a fairy tale. 🧸

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2025-10-29 08:22