Payment giant Visa unveils its stablecoin strategy, with the core approach being integration into the global payment network rather than replacement
Recently, Cuy Sheffield, Visa's head of cryptocurrency business, stated that the company is actively integrating stablecoins into its global payment network and views this as a key strategy to consolidate its market leadership.
He admitted that although the total circulating supply of stablecoins (such as USDT, which has exceeded $187 billion) has surged, their direct acceptance by mainstream merchants remains very limited.
Therefore, stablecoin service providers must rely on extensive payment networks to achieve user adoption; Visa’s existing channels perfectly meet this need, making it a central entry point.
Currently, Visa's stablecoin settlement business is showing strong growth, with an annualized processing volume reaching $4.5 billion and rising significantly month by month.
The primary demand for this service comes from payment card issuers linked to stablecoins, indicating that stablecoins in consumer payment applications still heavily depend on traditional card-based payment infrastructure as a connecting bridge.
Moreover, with traditional financial giants like Goldman Sachs and UBS increasingly entering the space with their own stablecoins, Sheffield's confidence in the future of euro-backed stablecoins has been further strengthened. He pointed out that stablecoins backed by multiple fiat currencies will collectively drive the sector toward maturity.
In summary, Visa's strategic positioning clearly demonstrates that this payment giant is focused on playing an irreplaceable role as a bridge and enabler between traditional card networks and emerging blockchain settlement layers, aiming to maintain control over the core hub of global payment flows in the digital currency era.