📈 Why Visa’s Crypto Chief Thinks Stablecoin Payments Are Poised for Takeoff How the card giant is positioning itself at the crossroads of blockchain and mainstream commerce
In an industry still waiting for the “killer app” of digital currency payments, one of the world’s biggest payment networks is doubling down on stablecoins — and the message from Visa’s head of crypto is clear: demand is real, and growth is accelerating. (Reuters)
As merchants and banks explore faster, low‑cost alternatives to traditional rails, Visa is increasingly betting on stablecoins — digital assets pegged to fiat currencies — as part of its long‑term payments strategy. While stablecoins aren’t yet accepted at scale in everyday checkout lines, Visa’s recent infrastructure moves suggest the era of digital‑dollar settlement could be closer than many expect. (Reuters)
🚀 Growth in Stablecoin Settlements
Visa’s head of crypto, Cuy Sheffield, said the company’s stablecoin settlement volumes — where funds are cleared using tokenized dollars like USDC — have reached an annualized rate of about $4.5 billion, and are climbing each month. That’s up from a $3.5 billion run rate late last year, backed by pilots with banks and stablecoin issuers. (Visa Investor Relations)
These volumes remain a small slice of Visa’s overall $14‑trillion‑plus annual payment ecosystem, but the trajectory is notable: stablecoin‑linked payment cards and settlement services are driving increased adoption among fintechs and digital finance platforms looking to offer novel payment experiences. (PYMNTS.com)
🧩 Bridging Crypto and Traditional Payments
One of the biggest challenges for stablecoins has been merchant acceptance at scale — most shops and online platforms don’t yet take USDC, USDT, or similar tokens directly for checkout. Visa’s strategy aims to bridge that gap by integrating stablecoin settlements into familiar payment flows, smoothing the path between blockchain rails and the mainstream merchant ecosystem. (The Star)
Visa has launched programs — including stablecoin‑linked cards in over 40 countries and pilot settlements with U.S. banks using Circle’s USDC — to help banks, fintechs, and merchants unlock tangible use cases beyond trading or speculative activity. (Visa Investor Relations)
🌍 The Broader Stablecoin Landscape
Visa isn’t acting alone. Across the payments and crypto world:
- Other firms — like Binance Pay — are seeing rapid merchant growth fueled by stablecoins. (Crypto Economy)
- Stablecoin market cap continues expanding, with over $270 billion in circulation as more institutions explore “digital dollar” tools. (DL News)
- Banks including Goldman Sachs and UBS are exploring issuing their own stablecoins, signaling institutional interest in tokenized settlement. (The Star)
Yet, skeptics point out that many stablecoin transactions today stem from trading and arbitrage rather than real‑world payments, and that merchant acceptance remains a hurdle. (DL News)
📊 What It Means for the Future of Payments
Visa’s approach signals a pragmatic view: stablecoins won’t replace traditional money overnight, but they could become a powerful complement — especially where speed, cross‑border capabilities, and blockchain transparency matter. As regulatory clarity improves and tech integrations deepen, stablecoins may well shift from niche crypto rails to mainstream settlements. (Visa Investor Relations)
📚 Glossary
Stablecoin – A cryptocurrency designed to maintain a stable value by pegging to a fiat currency like the U.S. dollar. Settlement – The process by which funds from a transaction are finalized and transferred between parties. Annualized run rate – A projection of financial performance over a year based on current data. USDC – USD Coin, a popular U.S. dollar‑backed stablecoin issued by Circle.
Source: Visa crypto chief sees stablecoin payment volumes growing — Tech in Asia (via Reuters reporting) (Tech in Asia)
