According to a ChainCatcher report, Cuy Sheffield, Visa's head of crypto business, stated in an interview with Reuters that Visa is working to integrate stablecoins into its existing payment systems to maintain its market leadership. Currently, stablecoin settlements have reached an annualized volume of $4.5 billion, which, although only a small portion of Visa's total $14.2 trillion in payments last year, is showing significant monthly growth. Sheffield noted that although the circulation of stablecoins exceeds $270 billion, their adoption by mainstream merchants remains limited, with no large-scale merchant acceptance network in place. Visa has launched several stablecoin-related initiatives, including stablecoin payment cards, and in December initiated a pilot program allowing certain U.S. banks to settle transactions with Visa using Circle's USDC.
Visa's Stablecoin Settlements Reach $4.5 Billion Annualized, But Merchant Adoption Remains Limited
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Summary
Visa's efforts to adopt cryptocurrency are showing progress, with stablecoin settlement volume reaching an annualized $4.5 billion. Cuy Sheffield told Reuters that this figure is still relatively small compared to Visa's total payment volume of $14.2 trillion in 2025. Despite stablecoin circulation exceeding $27 billion, merchant adoption of blockchain technology remains limited, with no major merchant network yet established. Visa has launched stablecoin payment cards and initiated a pilot in December, allowing selected U.S. banks to settle transactions in Circle's USDC.
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