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Visa Supports Paxos' Stablecoins USDG and PYUSD for Settlement Services

Visa's new support for Paxos-issued stablecoins USDG and PYUSD enhances its digital payment infrastructure, reflecting the growing trend of stablecoin adoption.

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Summary

Visa announced its support for Paxos-issued stablecoins USDG and PYUSD in its stablecoin settlement services, effective immediately. This integration allows transactions on the Stellar and Avalanche networks, in addition to existing support for Ethereum and Solana. The move signifies Visa's commitment to expanding its digital currency framework and accommodating the increasing use of stablecoins in financial transactions.

Terms & Concepts
  • Stablecoin: A type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset, such as a currency or commodity.
  • USDG: A stablecoin issued by Paxos, pegged to the U.S. dollar, designed for digital transactions.
  • PYUSD: Another stablecoin issued by Paxos, also pegged to the U.S. dollar, aimed at facilitating digital payments.