Visa expands stablecoin offerings on its platform, adding support for Global Dollar, PayPal USD, Euro Coin, Stellar, and Avalanche. Users can send/receive stablecoin payments or convert to fiat currency. Institutional interest in stablecoins is growing, with the total market cap over $256 billion. Competition for stablecoin market share is rising. Mastercard is collaborating with crypto companies, while Walmart and Amazon explore launching their own stablecoins. Bank of America and JPMorgan are also exploring stablecoin initiatives. Stablecoins pose a threat to traditional payment processors like Visa and Mastercard. Onchain stablecoin transaction volume is surpassing traditional payment processors like Visa and Mastercard, becoming the “default settlement layer” for the internet.

Read more at Cointelegraph: Payments Giant Visa Expands Stablecoin Offerings