Visa expanded its settlement network to support additional stablecoins including PayPal USD and Global Dollar, plus euro-pegged EURC, and added Stellar and Avalanche blockchain support. However, merchant adoption remains minimal, with stablecoin payments representing less than 1% of overall activity.
Visa announced expansion of its settlement platform to support four stablecoins (USDC, EURC, PYUSD, USDG) and four blockchains (Ethereum, Solana, Stellar, Avalanche) through partnerships with Paxos and Circle. The company aims to bridge any stablecoin across any blockchain while supporting 25+ fiat currencies. Despite the expansion and $273 billion stablecoin market cap, actual merchant payments using stablecoins remain under 1% of total stablecoin activity, with most volume driven by high-value B2B transfers, cross-border payments, and exchange deposits rather than retail spending.