Visa announces support for four additional stablecoins, operating on four public blockchains and covering two fiat currencies.
ChainCatcher news, according to The Block, payment giant Visa announced that it will add support for four stablecoins, which operate on four different blockchains.
CEO Ryan McInerney stated during the company's fourth-quarter earnings call on Tuesday that the company is "adding support for four stablecoins, which run on four unique blockchains, covering two fiat currencies. We can accept and convert them into more than 25 traditional fiat currencies." McInerney revealed that Visa card spending related to stablecoins in the fourth quarter increased fourfold compared to the same period last year. Since 2020, Visa has facilitated over $14 billions in cryptocurrency and stablecoin flows, including users purchasing more than $10 billions in cryptocurrency and stablecoin assets using Visa credentials.
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