Visa Adds Polygon to Stablecoin Settlement Network as Annualized Volume Hits $7 Billion

Visa has integrated Polygon into its global stablecoin settlement program, allowing participating issuing and acquiring institutions to settle stablecoin transactions over the Polygon network, Odaily Planet Daily reported. Polygon said it is now the largest USD stablecoin payments network, accounting for 34% of all USD stablecoin transfers and 54% of USDC transfers. The network reports about 3.19 million weekly active stablecoin users and an onchain stablecoin supply of $3.62 billion. In March, USD stablecoin transaction count rose to 178.1 million. Visa said its stablecoin settlement program reached an annualized run rate of $7 billion this quarter, up 50% from three months earlier. Polygon highlighted sub-cent transaction fees and roughly four-second finality, adding that the network is already used for real-world settlements by institutions including Stripe, Revolut, Flutterwave, and BlackRock.