Visa has expanded its stablecoin settlement to the United States, allowing banks and fintechs to transact using the USDC token.
The card payment giant announced Tuesday that issuers and acquirer partners can now leverage stablecoins to settle transactions using Circle’s stablecoin USDC. The move comes a day after the firm launched the Stablecoin Advisory Practice, aimed at promoting stablecoin adoption.
Visa Brings Stablecoin Settlements to the US
Visa’s stablecoin settlement volume reached an annualized run rate of $3.5 billion as of November 30, according to its report. Circle’s USDC has been crucial in the payment giant’s transactions globally.
Today, the firm is now allowing US financial institutions to enjoy the instant and seamless transactions tied to stablecoins. They can now move funds 24/7 and swiftly, even on holidays, using USDC without any change to the Visa card experience.
USDC is the second largest in the over $315 billion stablecoin sector. Its issuer, Circle, is the developer of the Arc network, for which Visa is a design partner. The choice of Circle’s USDC as the settlement stablecoin in the US further strengthens the long-standing relationship between both firms.
Visa started experimenting with USDC in its stablecoin settlement pilot program in 2021. Two years later, it became one of the first top payment firms to settle transactions in stablecoins. Since then, Visa has been relentless in its adoption of stablecoin, offering users flexible payment options.
Initial Partnership
Meanwhile, Cross River Bank and Lead Bank are the first participants of this program. The Tuesday report revealed that they have already begun settling with USDC on Visa using the Solana network.
Furthermore, Visa plans to extend these services to more US financial institutions in 2026. It urged interested clients to work on stablecoin adoption through their account team.
Notably, Visa has deepened its involvement in the blockchain space over time. Last month, Visa tested stablecoin payouts for creators and freelancers using USDC. This follows its launch of the Visa Tokenized Asset Platform to support institutions looking to use the stablecoin payment rail.
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