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Visa expands its stablecoin landscape, with Avalanche and Stellar joining the settlement network.

Visa doubles down on its cryptocurrency strategy! This global payments giant has announced the expansion of its stablecoin settlement services to the Avalanche and Stellar blockchains, and has added support for PYUSD (PayPal), USDG (Paxos), and EURC (Circle) tokens. This means that Visa's stablecoin payment capabilities have been further upgraded from the existing Ethereum and Solana, fully entering the multi-chain era.

Ethereum and Solana, while important blockchains, each have their limitations, such as transaction fees and congestion issues. Distributing business across multiple high-performance blockchains can reduce the impact on operations when a single network encounters problems. Different blockchains have different technical characteristics and ecosystems. Avalanche is known for its fast transaction speeds and high scalability, while Stellar focuses on cross-border payments. Visa's multi-chain strategy allows it to choose the most suitable blockchain for different payment scenarios, enabling more flexible and efficient settlement services. Web3 is a world of coexistence among multiple chains. Visa's early positioning ensures that it has a place in any mainstream blockchain ecosystem in the future, thus seizing opportunities in the new generation of digital economy.

PayPal is one of the largest payment companies in the world. The integration of Visa with PYUSD means that the two major payment giants are collaborating in the stablecoin space, which will greatly promote the adoption of PYUSD and pave the way for its application in mainstream payment scenarios. Paxos and Circle are the leading issuers in the stablecoin sector. The addition of USDG makes Visa's stablecoin options more diversified. Meanwhile, support for EURC (Euro stablecoin) indicates that Visa is not only focusing on dollar stablecoins but is also beginning to lay out stablecoins for other major fiat currencies to meet the needs of global users.

As Visa executive Rubail Birwadker stated, reliable, scalable, and interoperable stablecoins will fundamentally change the way money flows globally. Compared to the traditional SWIFT system, cross-border payments using stablecoins are faster and cheaper. Visa's multi-chain strategy will further enhance this efficiency. The combination of stablecoins and blockchain technology can eliminate intermediaries in traditional payments, enabling frictionless peer-to-peer payments and providing a new experience for merchants and consumers.

Visa's stablecoin strategy is a clear and comprehensive layout that not only focuses on current technology trends but also looks to the future evolution of the global payment system. By expanding across multiple chains and choosing to collaborate with mainstream stablecoin issuers, Visa is building a competitive payment ecosystem for itself in the Web3 era. This move will undoubtedly accelerate the mainstream adoption of stablecoins and ultimately change the way we know money flows.