12h ago
Wild stat: Visa CEO says Consumer spending on stablecoin-linked cards up 4x over the quarter.
Visa also now supports 4 stablecoins on 4x blockchains.
As part of a strong earnings season, they shared more details on their current stablecoin initiatives. 👇
The Current Stack:
- USDC, EURC, PYUSD, USDG live now
- Ethereum, Solana, Stellar, Avalanche operational
- Converting to 25+ fiat currencies
- $2.5B annualized monthly volume
(That's 0.02% of total Visa volume)
But pay attention to the growth rate. Up 4x in a quarter.
A quarter!
Stablecoin volume is nice.
But the real real prize is instant settlement
Banks are pre-funding cross-border payments using USDC and EURC.
As settlement infrastructure.
Visa is building the rails for banks to clear international payments in stablecoins, then instantly convert to local currency.
The Three-Product Play:
Product 21
- Consumer Rails
- Cards linked directly to stablecoin balances.
- Spend crypto, merchant gets fiat.
- 4x growth quarter-over-quarter.
Product 2 - Settlement Infrastructure Banks clear payments in stablecoins instead of correspondent banking.
Product 3 - Stablecoin Utilities Visa will mint and burn stablecoins for clients.
Consumer spending just went 4x in three months.
A restaurant in Thailand gets paid in baht.
Customer in New York spends USDC.
Visa handles the conversion.
That's a revenue model if ever I saw one
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