Visa's head of cryptocurrency business is betting on stablecoin settlements, expecting transaction volume to increase.

Cuy Sheffield, head of Visa's crypto business, stated that the company is working to integrate stablecoins into its existing payment system to maintain market leadership. He acknowledged that stablecoins currently lack a large-scale merchant acceptance network, making Visa's channels crucial for user adoption by service providers. Visa's annualized stablecoin settlement volume has reached $4.5 billion and is growing significantly month by month, with demand primarily coming from stablecoin-linked payment card providers. Regarding the trend of institutions like Goldman Sachs, UBS, and European banks planning to issue their own stablecoins, Sheffield expressed optimism about the future prospects of Euro stablecoins.