Visa is stepping up its game in the race for digital payments dominance by expanding its stablecoin settlement services. The company now supports PayPal USD, Euro Coin, and the newly launched Global Dollar, along with two new blockchain networks—Stellar and Avalanche.

This move allows users to send, receive, and convert stablecoin payments via these blockchain rails, with options to settle in traditional fiat. Visa had already integrated Circle’s USD Coin and supported networks like Ethereum and Solana, but this latest update signals a broader push to capture the growing stablecoin economy.

The timing is no coincidence. Institutional demand for stablecoin infrastructure is exploding after the United States passed the GENIUS Act, a law providing regulatory clarity and greenlighting broader adoption. Tech giants, banks, and even major retailers are now rushing to issue or integrate stablecoins to slash costs and speed up payments.

Visa isn’t alone. Mastercard has already tokenized 30% of its transactions and is working with crypto firms to expand its presence in the space. JPMorgan has partnered with Coinbase to let users convert Chase points into USDC. Amazon and Walmart are reportedly exploring launching their own stablecoins to boost international commerce efficiency.

Even Bank of America’s CEO has hinted at rolling out a stablecoin-backed payment system.

Meanwhile, experts say stablecoins are already outperforming legacy payment processors. According to Alchemy’s head of engineering, onchain stablecoin settlement volumes have now surpassed those of both Visa and Mastercard—becoming the internet’s new default payment layer.