Payment company Visa by increasing support for global dollars (USDG), PayPal USD (Pyusd), euro coins (EURC) and two new blockchain networks, stars and avalanches.
Visa is Press release Thursday.
Visa has already provided support for Circle’s USD coins (USDC) Stablecoin, although networks that support transfer and resolution include Ethereum, Solana and newly added chains.
exist Signing the Genius Stablecoin Act In the United States, with the signal from tech companies, banks and even major retailers, plans to enter the Stablecoin market and take a portion of the pie.
Related: WLFI, which has a link to Trump, invests $10 million in Falcon Finance for Stablecoin development
Competition in Stablecoin’s market share continues to increase
Visa faces competition from an increasing list of financial institutions that are issuing stable users or integrating stable services for customers.
This includes Stablecoin issuers that disrupt the traditional financial system, which the company has admitted.
Visa’s direct competitor payment and credit card company MasterCard is working with crypto companies to integrate crypto payments 30% of the deal.
In June, it was reported that retail giant Walmart and tech company Amazon were also online markets, and they were exploring possibilities. Launch your own stablecoin. Both companies operate internationally and will benefit from reduced transaction fees and near-establishment time for cross-border commerce.
Bank of America CEO Brian Moynihan repetitions Mocking about creating stable plans And equipped the bank with Stablecoin payment track.
Recently, financial services companies and banking giants JPMorgan and Coinbase To enable customers to link their chase accounts directly to Coinbase and convert reward points to USDC.
https://www.youtube.com/watch?v=jeg7vspg2gy
Earlier this year, Mastercard representatives admit This stable person directly threatens the payment processor business model and is a destructive technology.
In June, Noam Hurwitz, head of engineering at Alchemy, payment infrastructure company, told Cointelegraph that Onchain Stablecoin transactions had surpassed Visa and MasterCard’s deals and had become “The default settlement layer of the Internet”.
Magazine: Unstablecoins: Depegging, Bank Run and other risks are imminent
