Visa Launches US Stablecoin Settlement Using USDC on Solana
- Visa’s stablecoin settlement framework enables daily transaction settlements for U.S. partners.
- The program utilizes Circle’s USDC, a dollar-pegged stablecoin.
- Initial participants include Cross River Bank and Lead Bank.
- Settlements can occur within seven days, enhancing liquidity and speed.
This initiative is part of Visa’s pilot program to integrate stablecoins into global commerce, responding to demand from financial institutions for faster, programmable settlement options. The use of the Solana network further modernizes treasury management for banks and fintechs.
With this launch, Visa aims to improve treasury efficiency while adhering to security and compliance standards. This move could significantly transform transaction processing in the financial sector. (Source)
