PARIS, France, June 30. Stablecoins are
unlikely to become widely used for paying for goods and services in
stores in the foreseeable future, but they may play an important
role in cross-border transfers, B2B settlements, and emerging
markets, Visa's Group President, Oliver Jenkyn, said, Trend's special correspondent
reports from the event.


Jenkyn made the statement at a briefing held as part of the Visa
Payments Forum in Paris.


According to him, blockchain technology and stablecoins are
still in the early stages of development, but their potential to
transform international payments remains significant.


“We are still at the very beginning of this journey. The
potential is enormous, and at Visa, we are optimistic about the
development of this area. Stablecoins have the potential to become
an important part of the future architecture of the global payment
system,” Jenkyn said.


He noted that Visa sees its role as a bridge between the
crypto-asset ecosystem and the traditional financial system.


“We see ourselves as a bridge between the world of
cryptocurrencies and stablecoins and the world of fiat currencies.
This is precisely the role Visa can play for the entire industry,”
he emphasized.


According to Jenkyn, the company sees the greatest potential for
stablecoins in emerging markets with unstable national currencies,
in cross-border transfers and corporate payments, as well as in the
development of cards linked to cryptocurrency and stablecoin
wallets.







“Such cards allow users to pay anywhere Visa is accepted, even
if their funds are held in cryptocurrency or stablecoins. In this
case, Visa acts as a bridge between digital assets and the
traditional financial system,” he noted.


However, Jenkyn believes that stablecoins will not become a
mainstream payment method in retail in the near future.


“I don’t think stablecoins will become widespread at store
checkout counters. They don’t solve any existing problems in
consumer payments. Their main areas of application are cross-border
transactions, B2B payments, and emerging markets,” he said.


He also emphasized that large-scale adoption of the technology
requires further development of blockchain infrastructure,
including improvements in network security, performance, and
privacy, as well as enhancements to digital wallets, key management
systems, and industry-specific solutions for working with
stablecoins.


“We see great potential, but there is still a lot of work to be
done before this technology becomes widespread,” Jenkyn
concluded.