Visa Expands Stablecoin Rails Amid 16% HBAR Decline
Visa added five blockchains to its stablecoin settlement pilot on April 29, 2026, pushing the program’s annualized run rate to $7 billion-a 50% jump from the prior quarter.[1][2][5] The expansion covers nine networks total, including Polygon, Base, and Arc, enabling issuers and acquirers in over 50 countries to settle VisaNet obligations directly in stablecoins.[1][3][5] This move underscores growing institutional demand for blockchain-based payments just as Hedera’s HBAR token slides 16% over the past three months.[web:9 from TradingView data]
The five new networks-Arc from Circle, Base from Coinbase, Canton, Polygon, and Tempo-build on Visa’s original four: Avalanche, Ethereum, Solana, and Stellar.[1][5] Visa now supports more than 130 card programs linked to stablecoins, with partners like Circle, Coinbase, and Polygon citing real-world settlement needs.[1][2] Bridge, a Stripe company, plays a key role through its stablecoin-linked card program, now live in 18 countries and targeting over 100 by year-end across Europe, Asia Pacific, Africa, and the Middle East.[4][6]
Developers using Bridge issue Visa cards backed by stablecoins, letting users spend at 175 million merchant locations worldwide.[4][6] Crypto wallets like Phantom and MetaMask have integrated the cards, exposing millions of users to seamless fiat conversions.[4][6] Lead Bank, a pilot participant, settles these transactions onchain via Bridge’s infrastructure, cutting reliance on traditional rails for faster, 24/7 liquidity.[4][5]
Hedera’s HBAR, trading around $0.12 as of April 30, 2026, has lost 16% since late January amid broader altcoin pressure and network-specific challenges. Data from TradingView shows HBAR underperforming peers like Solana and Polygon, which gained spots in Visa’s pilot.[2] Market participants view the timing as a reminder of enterprise blockchain competition, where Visa’s picks favor high-throughput, compliance-ready networks.[1][5]
Visa maintains its pilot matches traditional rail standards for reliability and security.[1] The $7 billion run rate reflects pilots with nine U.S. banks for USDC settlements and growing acquirer adoption.[5][7] Stablecoins now complement fiat flows, with Visa eyeing payouts to wallets and account-to-account payments in emerging markets.[7]
This expansion shifts market structure toward multi-chain stablecoin rails, favoring networks with institutional partnerships over pure speed plays.[1][3] Investor behavior tilts to Visa-aligned chains like Base and Polygon, which saw token gains post-announcement, while HBAR’s decline highlights risks for non-selected Layer 1s. Adoption trends accelerate as card programs bridge crypto to everyday commerce, but scalability limits persist on older networks.[6]
One risk stands out: regulatory scrutiny on stablecoin issuers could slow global rollouts, even as Visa prioritizes compliant infrastructure.[5] Data suggests pilot growth hinges on merchant uptake and cross-border volumes.
Forward, Visa’s multi-chain bet positions stablecoins as a core payment layer, pressuring unpartnered networks to secure real utility or face prolonged price weakness.[1]
[1] https://www.mexc.com/news/1063077
[2] https://www.tradingview.com/news/cointelegraph:42cb29d74094b:0-visa-adds-polygon-base-support-as-stablecoin-settlement-run-rate-hits-7b/
[3] https://investingnews.com/visa-accelerates-stablecoin-momentum-adding-five-blockchains-for-settlement/
[4] https://corporate.visa.com/en/sites/visa-perspectives/newsroom/visa-bridge-stablecoin-linked-card-expansion.html
[5] https://www.digitaltransactions.net/visa-looks-to-expansion-in-stablecoins-and-agentic-commerce/
[6] https://cryptobriefing.com/stablecoin-visa-card-program-expansion/
[7] https://corporate.visa.com/en/solutions/crypto/stablecoins/stablecoins-and-the-future-of-onchain-finance.html
https://www.tradingview.com/symbols/HBARUSD/ (HBAR 3-month performance data)
