Visa will help large clients implement stablecoins. On December 15, the payment system announced the launch of its consulting practice, within which it will assist financial companies, banks, and other enterprises in developing strategies and implementing stable cryptocurrencies, reports The Block.
Stablecoins are cryptocurrencies pegged to the value of other assets, such as gold or currencies, most often the US dollar. The total market capitalization of stablecoins currently exceeds $300 billion, but significant growth is forecasted: Citi believes that the stablecoin market could reach between $1.9 trillion and $4 trillion by 2030, while Standard Chartered expects $2 trillion by 2028. The popularity of stablecoins in payments is attributed to the fact that they help speed up and reduce the cost of transactions.
The Visa service will offer training, market analysis, strategy development, use case evaluation, and technical support to organizations evaluating the possibility of integrating stablecoins into their products or operations.
The first clients of the practice will be the Navy Federal Credit Union, the financial company Pathward, and VyStar Credit Union. The company expects this service to expand to hundreds of clients.
"Frankly speaking, we are working with stablecoins to help our clients grow. What Visa is doing in this area is yet another area where our clients need support," said Karl Rutstein, head of Visa's global consulting and analytics division, to Fortune.
Visa has been working with cryptocurrencies for several years. Back in 2023, it launched settlements in stablecoins, and now it has more than 130 card issuance programs linked to stable coins in over 40 countries. The annual volume of Visa's settlements in stablecoins is about $3.5 billion.
Stablecoin issuers themselves intend to compete for market share with the payment giant. Circle, which issues USDC, launched its own public test network Arc in 2025. This project is positioned as a potential competitor to Visa and Mastercard.
In November, it became known that Visa is testing payments in stablecoins for content creators and freelancers. The payment company PayPal is doing the same, issuing dollar tokens PYUSD. Video creators from the US on YouTube can already receive payments in them.
