Visa: For stablecoins to become the next generation of digital payment infrastructure, three key elements are needed: the technology layer, the reserve layer, and the interface layer.

According to a message from Deep Tide TechFlow, on June 24, Visa's Chief Product and Strategy Officer Jack Forestell stated that the U.S. Senate recently passed the "U.S. Stablecoin Innovation and Establishment Act" (GENIUS Act), and Visa supports this. Forestell believes that stablecoin legislation is a significant moment in the history of payments, but there are still challenges to true scaling.

Visa pointed out that for stablecoins to become the next generation of digital payment infrastructure, three layers are required: the technology layer, the reserve layer, and the interface layer. Blockchain technology and regulated reserves supporting stablecoins address the first two issues, but the interface layer still needs to be resolved. Visa plans to help address this issue through its service stack.

Since 2020, Visa has facilitated nearly $95 billion in cryptocurrency purchases and over $25 billion in cryptocurrency spending. The company believes that stablecoins have significant opportunities in emerging markets, especially in scenarios where users need dollars, local fiat currencies experience high volatility, or for cross-border remittances.