Stablecoins gain popularity among Gen Z, with 46% using them monthly for yield farming and fast transfers.

Stablecoins gain popularity among Gen Z, with 46% using them monthly for yield farming and fast transfers.

Visa has significantly expanded its stablecoin and blockchain support, positioning itself at the forefront of the growing $2 trillion stablecoin market. The company has added Avalanche and Stellar to its blockchain settlement network, joining Ethereum and Solana. This move signals a major leap into multi-chain, multi-currency crypto settlements, targeting the projected $2 trillion stablecoin market.

Key Takeaways:
- Visa added Avalanche and Stellar to its blockchain settlement network, bringing the total to four supported blockchains.
- Three new stablecoins, PYUSD, USDG, and EURC, are now supported, expanding Visa’s onchain payment system.
- The move signals a major leap into multi-chain, multi-currency crypto settlements, targeting the projected $2 trillion stablecoin market.
- The expansion comes just weeks after the GENIUS Act was signed into U.S. law, providing regulatory clarity for stablecoins.

Visa’s updated network now allows select partners to settle transactions using both USD- and EUR-backed stablecoins, a move that could reduce FX costs, speed up international payments, and unlock new global use cases. This expansion marks a significant technical advancement, with Avalanche known for its high-speed finality and low-cost transactions, making it ideal for settlement use cases.

Stablecoins are gaining popularity among Gen Z, with 46% using them monthly for yield farming and fast transfers. This trend is driven by the increasing adoption of stablecoins by institutions and the growing demand for tokenized payments. Visa’s strategic partnerships with Circle, Paxos, Avalanche, and PayPal are crucial in driving this growth.

Visa is clearly positioning itself to lead the charge in the stablecoin market, acting as a global “translator” layer between traditional finance and programmable money. The company hinted at more blockchains and stablecoins joining the network soon, with industry insiders speculating that Layer 2s like Base or Optimism could be next in line, as well as institutional-grade tokens tied to government bonds or commodities.

References:
[1] https://www.cryptoninjas.net/news/visas-crypto-bet-just-got-bigger-2-trillion-stablecoin-market-now-eyes-avalanche-pyusd/