Visa Expands US Stablecoin Settlements with USDC on Solana
- Visa will enable U.S. partners to settle transactions using stablecoins, starting with USDC on the Solana blockchain.
- The initiative follows global pilots launched in early 2023 and has achieved a $3.5 billion annual run rate in stablecoin volumes.
- Initial banking partners include Cross River Bank and Lead Bank, with a broader rollout expected by Visa in the U.S. by 2026.
- USDC settlement offers faster fund movement, extending availability from a typical five-day business week to a full seven-day window.
Visa’s expansion into U.S.-based stablecoin settlements marks a significant step in mainstreaming digital currency use among traditional financial institutions and fintechs. The move is driven by demand from banking partners preparing to integrate stablecoins into their operations.
By enabling USDC settlements, Visa enhances treasury efficiency and aligns with its compliance standards while supporting increased settlement availability for its partners (Source).
