Visa integrates Polygon into its global stablecoin settlement network

CoinFeed reported on April 29th that, according to the Polygon blog, Visa has integrated the Polygon network into its global stablecoin settlement program, allowing partner card issuers and acquiring institutions to complete stablecoin settlements on Polygon. The article states that the program currently has an annualized stablecoin settlement volume of approximately $7 billion, growing by 50% in the past three months. Recent data shows that approximately 34% of USD stablecoin transfers and 54% of USDC transfers occur on Polygon. In March, there were 178 million USD stablecoin transactions, of which 19.8 million were P2P payments. The total stablecoin supply on Polygon is approximately $3.62 billion, with approximately 3.19 million weekly active stablecoin addresses.