Visa has just announced that it intends to add support for four stablecoins on four different blockchains.
This move is designed to improve the way payments are settled and money is moved globally on its network.
Visa CEO Ryan McInerney has revealed that the new framework will allow the company to accept and convert these stablecoins into more than 25 traditional fiat currencies.
The announcement comes at a time when Visa is seeing a huge surge in activity, with spending on cards linked to stablecoins quadrupling in the fourth quarter compared to the previous year.
It should be noted that Visa already supports a wide range of stablecoins, including Circle's USDC and EURC, PayPal's PYUSD, and Global Dollar (USDG), on multiple blockchains such as Ethereum, Solana, Stellar, and Avalanche.