Visa Partners Coinbases Base, Polygon & More For Stablecoin Push
Visa Inc. has extended its stablecoin settlement program to include five more blockchain networks, including Coinbases Base and Polygon. It aims to further expand its investment in stablecoin payments. The partnership increases the number of chains supported in the program to nine, as the firm moves to upgrade the global settlement system. Visa Announces Partnership With Major Layer 1 Blockchain Networks The latest additions include Coinbase‘s Labs and Polygon. According to today’s announcement, Visa has also collaborated with layer-1 blockchains like Arc, Canton and Tempo. With these partnerships, Visa aims to use specific applications including institutional settlement, managing liquidity and developing programmable financial applications. Visa executive Rubail Birwadker explained the planned transition to interoperability. He said, “Our partners are building in a multi-chain world, and they expect their options to reflect that reality.” The announcement comes amid a surge in stablecoin adoption in markets. The payments platform stated that its pilot has achieved an annualized settlement value of $7 billion, up 50% from the previous quarter. Visas platform now enables transactions across regions in Latin America, Europe and Asia, along with increased access for U.S. financial institutions. A Look At Base & Polygons Official Comments Jesse Pollak, founder of Base, spotlighted the impact of this partnership. Pollak