Visa to Launch Stablecoin in 2025 for Faster Cross-Border Payments
Visa, the global payments titan, is poised to introduce its own stablecoin in 2025, aiming to transform cross-border payments. The move coincides with the burgeoning stablecoin market, currently valued at over $298 billion and boasting daily trading volumes exceeding $180 billion.
Visa's stablecoin, slated for launch under its Visa Direct banner, will harness the speed and efficiency of the Solana blockchain. This high-speed network, renowned for its low transaction costs and scalability, will empower Visa to slash fees and enhance cross-border payment efficiency. The stablecoin aspires to bolster liquidity for businesses, with instant cross-border payments facilitated by Visa Direct's impending stablecoin integration.
The stablecoin sphere has witnessed surging interest, with World Liberty Finance debuting its USD1 stablecoin on Solana earlier this year. The network's allure for new stablecoin launches is evident, with Solana's price trajectory remaining bullish. Over the past 24 hours, SOL appreciated by 7.22% and rebounded from support at $205.88, signaling a potential retest of the $253 level.
Visa is collaborating with select partners, including banks, to gear up for the 2025 launch. The company is likely to debut its stablecoin on the Solana blockchain, capitalizing on its high speed and scalability. This maneuver aligns with Visa's objective to bolster swift and efficient cross-border payments in its stablecoin pilot program.
The introduction of Visa's stablecoin in 2025 is anticipated to significantly reshape the global payments terrain. With a legal framework for stablecoin use established in the United States via the GENIUS Act, the stage is set for widespread adoption. The stablecoin, propelled by the Solana blockchain, promises reduced fees, improved efficiency, and augmented liquidity for businesses, further solidifying Visa's status as a digital payments trailblazer.
