Visa Expands USDC Settlements to Solana for Faster Cross-Border Payments
Visa integrates Circle's USDC stablecoin on the Solana blockchain to accelerate cross-border payment settlements. The financial giant also launches pilot programs with Worldpay and Nuvei to allow merchants to receive crypto payouts.
Visa expands its cryptocurrency settlement capabilities by integrating Circle's USDC stablecoin on the Solana blockchain. The financial giant aims to accelerate cross-border payment transactions and operates as one of the first major payment institutions to use the Solana network directly for settlements at scale.
The company launches pilot programs with merchant acquirers Worldpay and Nuvei to process these modern transactions. Through these partnerships, business clients now have the option to choose USDC stablecoin settlements instead of receiving traditional fiat currencies when processing debit and credit card payments globally.
This expansion builds upon Visa's initial 2021 USDC testing on the Ethereum blockchain with Crypto.com. By leveraging both Solana and Ethereum networks, Visa successfully settles millions of dollars and helps modernize the speed of global fund transfers between its treasury and clients.