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Visa incorporates Polygon into its global stablecoin settlement program, with an annualized settlement volume reaching $7 billion
BlockBeats News, April 29 — Visa announced that it has officially integrated Polygon into its Global Stablecoin Settlement Program, allowing partner institutions, including card issuers and acquirers, to settle stablecoins via the Polygon network.
Polygon states that it is now the world’s largest USD stablecoin payment network. According to data from Allium and Dune:
34% of USD stablecoin transfers occur on Polygon, more than twice that of BNB Chain;
54% of USDC transfers occur on Polygon, exceeding the total of all other chains;
36% of global USDC transactions are conducted on Polygon;
Polygon currently has approximately 3.19 million active stablecoin users weekly;
On-chain stablecoin supply has reached a record high of $3.62 billion;
In March, USD stablecoin transaction volume reached 178.1 million transactions.
Visa states that its stablecoin settlement program has an annualized transaction volume of $7 billion this quarter, a 50% increase compared to three months ago. Polygon emphasizes that its network features sub-cent transaction fees, approximately 4 seconds for final transaction confirmation, and has been used by institutions such as Stripe, Revolut, Flutterwave, and BlackRock for real financial settlement activities.