Global payments are moving faster into blockchain tech as Visa Inc. (V) expands its stablecoin program across more networks. The update adds more blockchain support as institutions demand faster payments. The move also comes after the firm announced a huge surge in its annual stablecoin run rate.
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Despite the milestone, Visa’s stock showed little reaction, with the price currently sitting at around $329, marking a slight decline of over 1.7%. However, as of April 29, analyst James Faucette at Morgan Stanley (MS) raised his price target for the stock from 411 to $415, while Rayna Kumar at Oppenheimer (OPY) increased hers from $391 to $403.
Visa Expands Stablecoin Settlement Across More Blockchains
Visa has bolstered its stablecoin payment program by adding five new blockchain networks, including Polygon (MATIC-USD), Base, Arc, Canton, and Tempo.
While Polygon and Base run as Ethereum (ETH-USD) scaling networks, the other chains focus on stablecoin use and institutional payments. These new additions build on Visa’s current support for other blockchains, such as Ethereum, Avalanche (AVAX-USD), Solana (SOL-USD), and more.
The new move comes as Visa’s payment activity keeps rising among institutional users. Yearly stablecoin run rate surged from $4.7 billion to $7 billion in just one quarter. This growth marks a 50% quarterly increase, showing how much faster people are using blockchain payment rails.
Visa’s Global Head of Growth Products and Strategic Partnerships, Rubail Birwadker, has also commented on the milestone. He said that the company’s partners are now building in a world where many blockchains are used at the same time.
He explained that, because of this, Visa expanded its pilot so that partners can choose the networks that best fit their needs. He added that the company’s system connects different networks by acting as a bridge across blockchains.
Polygon and Stablecoin Cards Expand Visa’s Digital Asset Reach
Polygon confirmed its new deal with Visa in a post on X. The update allows Visa partners to move funds instantly using the Polygon network. The Polygon team added that its chain is built for real business use and can handle steady, large financial activity. This gives Visa stronger support for global payment flows.
Beyond settlement, Visa already runs over 130 stablecoin-linked card programs across more than 50 countries. The latest expansion makes it easier for users to move money between blockchains and normal payment systems like banks. Visa also works as a design partner for Arc and a validator for Tempo and Canton, increasing its role and use cases in the cryptocurrency space.
Is Visa a Buy, Hold, or Sell?
Analysts tracked on TipRanks rate Visa (V) as a Strong Buy, reflecting confidence in its payments business. The average price target for this stock stands at $400.64, implying an upside of about 25.15% from current levels. As of April 29, Will Nance an analyst at Goldman Sachs (GS) has reiterated his Buy rating for the Visa stock. He has also raised his price target from $394 to $420, marking a 27.6% upside.
Investors can track Visa ratings, price targets, and stock performance on TipRanks’ Stocks Comparison Center.
