Stablecoins open up new horizons for cross-border payments, says Visa
Date: 2025-07-30 Author: Henry Casey Categories: CRYPTO PAYMENTS
Visa top manager Chao Sheffield commented on the growing interest in stablecoins, emphasizing their important role in the field of international transfers. According to him, digital assets tied to fiat currency are of interest primarily to those who often face the need to send funds abroad - such transactions, as a rule, cannot be avoided without high fees and time delays.
Sheffield assured that Visa does not see a threat in the use of stablecoins by large companies, even if they offer alternative payment methods that do not require traditional bank cards. He noted that such technologies have a limited impact on everyday purchases: the bulk of transactions with digital currencies account for significant amounts, while ordinary retail payments remain in the banking sector.
Visa records the greatest activity in the use of stablecoins in Latin American countries - Brazil, Argentina, Chile and Colombia. In addition, significant distribution is observed in African countries, such as Nigeria and Kenya, as well as in some regions of Asia and Oceania. In these countries, digital assets often become an alternative to traditional banking services, access to which is limited or difficult.
According to Sheffield, stablecoins serve as a kind of link between developing markets and the economies of developed countries, creating conditions for more effective participation in the global financial system. He emphasized that for many users outside the US and Europe, such solutions are becoming the only way to access digital payment instruments.
In the future, according to the Visa representative, the demand for stablecoins denominated in currencies other than the dollar will grow. This is due to the need to ensure fast and cost-effective conversion between different currencies in a global market.
Chao Sheffield has previously expressed Visa's interest in other areas of the crypto industry, including NFTs, confirming the company's commitment to staying on top of the latest innovations in financial technology.
