Visa Integrates PYUSD, EURC & USDG To Stablecoin Payments To Boost Cross-Border Settlement ⋆ ZyCrypto

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Visa Integrates PYUSD, EURC & USDG To Stablecoin Payments To Boost Cross-Border Settlement ⋆ ZyCrypto

Global payment firm Visa is expanding stablecoin support, marking a further extension of its cryptocurrency offerings. The company will integrate two USD-backed stablecoins and the euro-backed EURC. Visas new offerings align with an uptick in institutional demand for crypto payments.

Visa Partners Paxos To Onboard New Assets

In a new release, the company announced plans to build networks that will boost cross-border payments, adding support for assets and blockchains. Partnership with Paxos will ensure the onboarding of Circle‘s backed EURC, PayPal’s PYUSD, and USDG.

Dollar-based stablecoins have gained lots of traction, dominating digital asset settlement markets. Visa is keen on leveraging the increasing demand to expand its network. At the moment, the companys crypto infrastructure facilitates global payments across 25 currencies.

While these assets are ahead, crypto stakeholders are diversifying their interests to Euro-based assets. Per the release, select Visa partners can participate in the pilot with settlement in both USD and EUR-backed assets. Stablecoins are pegged to an underlying currency, leveraging blockchain technology. This makes it faster and more seamless to settle transactions compared to centralized players.

Furthermore, these assets have become traditional finance favorites because they act as bridge assets to access more cryptocurrencies. Price volatility is another factor behind the surging demand for stablecoins. A new report reveals that 43% of Chief Financial Officers (CFOs) are apprehensive about digital assets due to their significant price fluctuations. On the other hand, stablecoins are backed by the underlying currency and are perfect for cross-border settlement.

This year, Visa announced stablecoin expansion for card partners, emphasizing the need for wallets to be interoperable across diverse networks. The move enables flexible payment options and bolsters market demand. Visas latest announcement follows a string of traditional financial firms backing the industry. Stripe and top United States banks are reportedly exploring these assets to aid global settlement.

Top companies like Uber, JD.com, and Ant International have also launched exploration in recent months. The GENIUS Act, a landmark stablecoin regulation signed by President Trump, has provided investors with expected clarity on issuance, transfers, and custody.