According to the CEO Ryan McInerney of payment giant Visa, the company plans to expand the ways payments may be resolved and money moved over the Visa network and intends to enable numerous stablecoins.
On Tuesday, Ryan McInerney said “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 also noted that “In Q4 stablecoin-linked Visa card spend quadrupled versus a year ago.”
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Visa and stablecoins
Visa, like many other established financial institutions and payment organisations, believes that stablecoins have more potential, particularly now that the United States has established regulatory clarity regarding USD-pegged tokens.
Although Visa has previously partnered with companies that are local to the cryptocurrency space, in September the corporation started a trial to test stablecoins for cross-border payments, giving companies a new and faster option to send money overseas.
Additionally, McInerney stated on Tuesday that since 2020, Visa has “facilitated over $140 billion in crypto and stablecoin flows.”
He continued by saying that more than $100 billion worth of cryptocurrency and stablecoin assets were bought by customers using their Visa credentials.
“We now have more than 130 stablecoin-linked card issuing programs in over 40 countries,” McInerney said on the call. The CEO of Visa said that his business has begun to allow banks to create and burn their own stablecoins.
Other developments
In an effort to revolutionise the way money travels across the world, Visa has started a ground-breaking pilot project that incorporates stablecoins into its cross-border payments program.
Banks, remittance companies, and financial institutions can pre-fund cross-border payments using Circle’s USDC and EURC through the Visa Direct trial, which was unveiled at SIBOS 2025.
In August, Cuy Sheffield, Visa’s director of cryptocurrency, stated the stablecoin market may reach $2 trillion in three years, and traditional payments and cryptocurrency will collide.
Visa claims to have settled more than $200 million in stablecoin transactions overall and is developing tools and bank alliances to serve as a conduit between digital currencies and banks.
Also, officials from Visa and Mastercard minimised the threat presented by dollar-pegged stablecoins on their quarterly earnings calls. Following the passage of new regulations by Congress that might accelerate the usage of stablecoins, they offered their remarks, clearing any confusion for competition.