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Visa Reveals Earnings, New Networks For Stablecoin Transfers
Visa updates investors on earnings and announces several new networks that can now handle its stablecoin transactions.
Visa performs well in earnings report, shows stablecoin volume growth and adds new networks (Steven Lawson / Unsplash)
Visa gives big Q2 earnings update and stablecoin operations.
Visa has recorded $11.2B in net revenue, beating $10.9B from Q1 results and delivering the highest growth since 2022.
Also, it has announced a $7B annual stablecoin run rate to date and adding 5 new networks including Polygon, Base, Arc, Tempo, and Canton for stablecoin payments.
Global Head of Growth Products and Strategic Partnerships Rubail Birwadker expressed:
“Expanding our stablecoin settlement pilot program to more blockchains means our partners can choose the networks that best fit their needs, while relying on Visa to provide a common settlement layer across all of them."
Visa's overall share performance in the public markets reacted positively to the news and underlying growth results.
Inside the published earnings report were also key mentions of earlier acquisitions being completed for scaling across LATAM, specifically of local card issuer Prisma and provider NewPay in Argentina.
Visa's stablecoin intiatives since last year have included a stablecoin payouts and pre-funding pilot, launching a stablecoin advisory, and announcing numerous industry partnerships for powering stablecoin card payments.
More broadly, their crypto and AI teams are continuing to develop new innovation in CLI (Command Line Interface) commerce to handle the next wave of global payments made by AI Agents and new developers, irrespective of the rail, transfer asset, or destination.
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