Visa has launched a specialized service to assist banks and fintechs in developing stablecoin strategies. This initiative, known as the Stablecoins Advisory Practice, is under Visa Consulting & Analytics and targets financial institutions and businesses looking to explore the stablecoin landscape.
This new advisory service is aimed at helping organizations navigate the complexities of stablecoins, from assessing market fit to developing concrete strategies and implementing stablecoin-based solutions. Visa’s extensive experience is evident as the company supports a network of over 130 stablecoin-linked card programs worldwide, which collectively manage an impressive annual settlement volume exceeding $3.5 billion.
How can stablecoins enhance your payment strategies? By offering insights into how stablecoins can revolutionize payment systems, Visa not only enhances transaction speed, but also reduces overall costs. The adoption of stablecoins presents fresh growth opportunities, an aspect that early partners like Navy Federal Credit Union and Pathward have begun to realize.
The stablecoin market is expanding rapidly, now surpassing a market capitalization of $250 billion, with Visa positioning itself at the forefront of this evolution. Visa's proactive engagement in the blockchain and stablecoin space has solidified its role as a pivotal link between established payment methods and modern technological advancements in finance.
In addition to its advisory services, Visa is part of the Global Dollar Network, a consortium led by Paxos that is promoting the USDG stablecoin while adhering to regulations set by Singapore’s Monetary Authority. Collaborating with firms like Kraken and Galaxy Digital signifies Visa's commitment to embracing and shaping the future of digital finance.
Furthermore, Visa recently initiated a pilot program to facilitate direct stablecoin payouts to creators using USDC, enhancing efficiency in cross-border payments. This move illustrates Visa's forward-thinking approach in tapping into the growing demands of the global digital economy.