KEY TAKEAWAYS
- Wirex launches dual-stablecoin settlement using USDC and EURC on the Stellar blockchain, enhancing digital payment efficiency.
- The partnership with Visa allows Wirex to settle payments without intermediary banks, showcasing the potential of on-chain transactions.
- Wirex Pay’s infrastructure supports real-time payments from self-custody wallets, aiming to redefine financial services for the Web3 economy.
Wirex, a global leader in digital payments and a principal member of Visa, has announced the launch of dual-stablecoin settlement using USDC and EURC on the Stellar blockchain. This development, in collaboration with the Stellar Development Foundation (SDF), marks a significant milestone in blockchain-powered finance.
The rollout enables on-chain settlement of card payments using USDC and EURC, offering a faster, cheaper, and more transparent alternative to traditional banking systems. Pavel Matveev, CEO and Co-founder of Wirex, stated, “Stablecoin-native settlement is no longer a concept — it’s live, at scale, and delivering real value to users globally.”
Partnership with Visa Enhances Payment Experience
Wirex’s principal membership with Visa allows the company to fulfill its settlement obligations in USDC and EURC without relying on intermediary banks or legacy fiat systems. Cuy Sheffield, VP and Head of Crypto at Visa, commented on the partnership, highlighting how Wirex’s use of USDC and EURC on Stellar showcases the potential of on-chain settlement to enhance speed, transparency, and programmability in digital payments.
Denelle Dixon, CEO and Executive Director at Stellar Development Foundation, emphasized the significance of this launch, stating, “The future of finance is on-chain, which is why Wirex going live with dual-stablecoin settlement on Stellar is a major step forward for real-world stablecoin utility.”
Implications for Users and Partners
This launch is powered by Wirex Pay, the company’s on-chain stablecoin infrastructure that facilitates real-time card and banking payments directly from self-custody wallets. By leveraging the efficiency of blockchain and the programmability of stablecoins, Wirex aims to redefine modern financial services, making them borderless, instant, and built for the Web3 economy.
For more details, the official announcement can be found here.
Why This Matters: Impact, Industry Trends & Expert Insights
Wirex’s launch of dual-stablecoin settlement on the Stellar blockchain in partnership with Visa represents a significant advancement in blockchain-powered finance. This initiative facilitates on-chain settlements using USDC and EURC, enhancing the speed and transparency of digital payments.
A recent Crowdfund Insider report highlights the substantial growth in stablecoin adoption, driven by regulatory clarity and increasing institutional participation. This aligns with Wirex’s use of stablecoins for on-chain settlements, showcasing their utility in enhancing transaction efficiency and transparency.
As per insights from a XT.com report, the integration of Visa and Wirex is viewed as a pivotal step in bridging traditional finance with blockchain-based payments. This supports the broader adoption of stablecoins, positioning Visa as a critical link between legacy payment networks and the emerging Web3 ecosystem.
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