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Visa’s (NYSE:V) settlement platform is adding support for more stablecoins and blockchains, the payment network firm said on Thursday.
“Visa is building a multi-coin and multi-chain foundation to help meet the needs of our partners worldwide,” said Rubail Birwadker, global head of Growth Products and Strategic Partnerships at Visa. “We believe that when stablecoins are trusted, scalable and interoperable, they can fundamentally transform how money moves around the world.”
Through a new partnership with stablecoin issuer Paxos Trust, Visa (NYSE:V) will be able to support dollar-backed stablecoins Global Dollar (USDG-USD) and PayPal USD (PYUSD-USD). Paxos is the issuer of both tokens.
What’s more, Visa (V) said it will be supporting two more blockchain networks: Stellar and Avalanche. The settlement platform already supports Ethereum and Solana.
The company said it also has integrated Circle Internet Group’s (CRCL) euro-backed stablecoin, EURC.
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