Visa (NYSE: V), the global payments leader, announced a major advancement in modernizing cross-border money movement by extending its stablecoin settlement capabilities to the high-performance Solana blockchain. This initiative is being implemented in collaboration with acquiring merchants Worldpay and Nuvei.
How Visa’s Stablecoin Settlement Works
Through ongoing pilot tests with issuers and acquirers, Visa has already facilitated millions of USDC transfers between partners across Ethereum and Solana blockchains to settle authorized payments via VisaNet.
When consumers use Visa cards for purchases at millions of Visa-accepting merchants worldwide, they experience near-instant payment authorizations. Behind the scenes, funds must move between the cardholder’s bank (issuer) and the merchant’s bank (acquirer). Visa’s treasury and settlement systems handle this seamlessly, processing billions daily across:
- Nearly 15,000 financial institutions
- Over 25 currencies globally
"By leveraging stablecoins like USDC and global blockchain networks such as Ethereum and Solana, we’re enhancing cross-border settlement speed and providing clients with a modern option to send/receive funds via Visa’s treasury."
— Cuy Sheffield, Head of Crypto at Visa
Key Benefits of Blockchain Settlement
- Faster international fund transfers
- Reduced reliance on traditional banking rails
- Lower transaction costs
- Increased transparency
From Pilot to Production: Visa’s Crypto.com Case Study
In 2021, Visa initiated testing with USDC for treasury operations, leading to a groundbreaking pilot with Crypto.com. This made Visa one of the first major payment networks to trial digital currency settlement. The successful pilot program demonstrated:
👉 How Crypto.com leveraged USDC for cross-border card settlements in Australia
Before Blockchain Settlement
- Multi-day currency conversion
- Costly international wire transfers
After Implementation
- Direct USDC transfers via Ethereum
- Funds sent to Visa’s Circle-managed account
- Settlement time reduced by over 70%
Jeremy Allaire, Circle CEO, noted:
"Combining USDC with Visa’s innovation opens the future of payments and financial applications."
Expanding to Merchant Acquirers
Visa now enables on-chain fund disbursement to acquirers like Worldpay and Nuvei, accelerating settlement for their merchants—including crypto-native businesses:
| Merchant Type | Use Case |
|---|---|
| On-ramp providers | Accept stablecoin payouts |
| NFT marketplaces | Receive card payments in USDC |
| Gaming platforms | Faster cross-border settlements |
Why Solana?
Visa added Solana support to address:
- High throughput needs (2,000+ TPS)
- Ultra-fast block times (400ms)
- Lower transaction costs
This makes Visa among the first major payment companies to use Solana for live settlement payments.
Strategic Partnerships Drive Innovation
Visa’s collaborations with Worldpay and Nuvei mark a pivotal step in digital currency adoption:
- Worldpay:
"Visa’s USDC settlement allows us to offer merchants more fund receipt options." — Jim Johnson, President - Nuvei:
"Stablecoins help global businesses optimize cross-border transactions." — Philip Fayer, CEO
FAQ: Visa’s Stablecoin Settlement
1. Which stablecoins does Visa support?
Visa currently settles payments in USDC (USD Coin).
2. How fast are blockchain settlements vs traditional methods?
Blockchain settlements finalize in minutes, compared to 1-3 days for wire transfers.
3. Can merchants choose fiat instead of stablecoins?
Yes, Visa supports both traditional and digital currency settlements.
4. What’s the cost advantage of USDC settlements?
Reduces international transfer fees by up to 60%.
5. Is Solana secure for high-value transactions?
Visa’s implementation includes enterprise-grade security protocols on Solana.
6. Will Visa support other blockchains?
Visa continues evaluating networks based on scalability and partner demand.