Visa Extends Stablecoin Pilot To Base And Polygon
Visa expands its stablecoin settlement pilot to Base, Polygon, and three other chains, bringing total supported networks to nine.
Visa expanded its stablecoin settlement pilot to five new chains, including Base and Polygon. The additions bring Visa's total supported blockchains to nine, joining existing support for Ethereum. The pilot aims to push Visa's stablecoin infrastructure into mainstream finance. The pilot has reached a $7 billion annualized run rate.
The pilot builds on regional rollouts across Latin America, Europe, Asia Pacific, and CEMEA, as well as the recent expansion of USDC settlement to U.S. banks and over 130 stablecoin-linked card programs. Visa's multi-chain approach aims to give its partners more flexibility in how they access liquidity, while the network handles the underlying complexity of cross-chain settlement.
The expansion fits a broader trend of legacy financial infrastructure piloting Ethereum-aligned stablecoin rails. SWIFT is testing a stablecoin and onchain messaging system on Linea, and Polymarket recently announced its own native USD stablecoin to replace bridged USDC.e.
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Proposal For Celo To Launch On Polygon CDK
Sandeep Nailwal also offered implementation partners to support Celo core developers in deploying a CDK-based chain.
This episode was featured in Episode #302.
Polygon Co-Founder Sandeep Nailwal published a proposal seeking for the Celo Ecosystem to consider the deployment of its Layer 2 solution as a ZK-powered chain using Polygon CDK. The transition would provide Celo with EVM-equivalent compatibility, enhanced security through ZK proofs, low-cost transaction fees, and interoperability with other ZK-powered chains. Nailwal also offered implementation partners to support Celo core developers in deploying a CDK-based chain. The proposal comes after Celo Labs' own proposal to transform its L1 into an L2 network based on the OP Stack with EigenDA for data availability. Celo is an EVM L1 chain focused on payment infrastructure.