Visa Expands Stablecoin Settlement Capabilities to Merchant Acquirers
Visa (NYSE: V), a global leader in payments, announced its next step in modernizing cross-border money movement. Visa is expanding its stablecoin settlement capabilities to the high-performing Solana blockchain and is working with merchant acquirers Worldpay and Nuvei.
Through live pilots with issuers and acquirers, Visa has already moved millions of USDC between its partners over the Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized over VisaNet.
When consumers use Visa cards to make a purchase at any of the millions of Visa-accepting merchant locations around the world, they can experience the convenience of nearly instant payment authorizations. But what they don’t see is that the funds used for their purchase need to move between their bank (the issuer) and the merchant’s bank (the acquirer). This is where Visa’s treasury and settlement systems enable the clearing, settlement and movement of billions in transactions a day, making sure the correct amount in the preferred currency is received from the issuer and sent to the acquirer. This process happens seamlessly between nearly 15K financial institutions and across more than 25 currencies globally.
“By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we're helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury,” said Cuy Sheffield, Head of Crypto, Visa. “Visa is committed to being on the forefront of digital currency and blockchain innovation and leveraging these new technologies to help improve the way we move money.”
Building on the Crypto.com Pilot
In 2021, Visa began testing how USDC could be used inside its treasury operations which led to a pilot with Crypto.com, making Visa one of the first major payments networks to test stablecoin settlement on the issuance side. This work led to a successful pilot leveraging USDC and the Ethereum blockchain to receive payments from Crypto.com for cross-border volume on their live card program in Australia. Crypto.com now uses USDC to fulfill its settlement obligations on the Visa card in Australia and intends to roll out this capability in other markets.
Before that pilot, settlement for cross-border purchases made on Crypto.com Visa cards required a days-long currency conversion process and costly international wire transfers. Now, Crypto.com can send USDC cross-border over the Ethereum blockchain directly to a Visa treasury managed Circle account which helps reduce the time and complexity of international wire transfers.
“We are excited about the USDC use cases Visa and its partners are driving to create fundamental blockchain innovation,” said Jeremy Allaire, Co-founder and CEO, Circle. “Circle built USDC to provide a functional digital dollar that could move at the speed of the internet to facilitate secure, reliable payments. Expanding the pilot exemplifies how pairing USDC with Visa’s innovation opens up the future of payments, commerce and financial applications.”
Moving from Issuers to Acquirers
While Visa’s treasury operation continues to test receiving funds onchain from multiple issuer partners, with these new settlement options Visa can send funds onchain to acquirers like Worldpay and Nuvei to help speed up settlement times for their merchants.
Worldpay and Nuvei are global acquirers serving merchants worldwide from a diverse range of sectors. This includes a growing number of merchants interacting with the blockchain and crypto economy including on-ramp providers, games, and NFT marketplaces who may prefer to receive stablecoins over traditional fiat currencies for the card payments they accept. Using Visa’s own Circle account, Visa can now manage settlement payouts in USDC to Worldpay and Nuvei who can then route these payments in USDC to their end merchants.
Adding Support for the Solana Blockchain Network
As Visa looked to expand this capability to additional clients, there has been significant demand to leverage newer, high performance blockchains that can send and receive stablecoins with higher speed and lower costs. For these reasons, Visa chose to add support for Solana as a high performance blockchain that its partners can choose to send or receive USDC settlement payments. This makes Visa one of the first major payments companies at scale to directly utilize Solana for live settlement payments between its clients. The Solana blockchain sees 400 millisecond block times, averages 400 transactions per second (TPS) and typically surges to more than 2K TPS1 across a variety of use cases during periods of peak demand.
Forging New Partnerships
With an eye towards the future in an increasingly digital financial landscape, Visa is forging ahead with new partnerships and embracing the innovative potential of digital currencies. Visa’s work with Worldpay and Nuvei represents a significant stride in this direction.
“Visa's USDC settlement capability enables Worldpay to bring more of our treasury operations in-house and allows us to offer merchants more choices for receiving funds,” said Jim Johnson, President of Worldpay Merchant Solutions, FIS. “Diversifying funding options and increasing flexibility is critical to serving the changing needs of global merchants in today’s rapidly evolving commerce landscape.”
“Stablecoins like USDC are cutting edge payments technology that can enable online businesses around the world to accelerate their growth,” said Philip Fayer, Chair and CEO, Nuvei. “Optimizing cross-border transactions is only one use case where stablecoins can benefit businesses. As a leading global payments company, we are constantly focused on innovation, and we’re excited to work with Visa to bring these capabilities to our partners.”
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
1 Blockchain explorer, Solscan. Numbers include real TPS, excluding voting TPS. Link.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230905549860/en/
Contact information
Jackie Dresch - jdresch@visa.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Transition Industries Signs Strategic Agreements for the Pacifico Mexinol Project, the Largest Standalone Ultra-Low Carbon Chemical Production Facility in the World30.6.2025 21:30:00 EEST | Press release
Transition Industries LLC, a developer of world-scale, net-zero carbon emissions methanol and green hydrogen projects in North America, held a signing event for an Engineering, Procurement, and Construction (EPC) contract with the consortium of Samsung E&A Co., Ltd. (Samsung E&A), Grupo Samsung E&A Mexico, S.A. de C.V., and Techint Engineering and Construction for the Pacifico Mexinol project located in Ahome, Sinaloa, Mexico, which is contingent upon the fulfillment of customary conditions precedent and obtainment of all required approvals. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630940954/en/ MAIRE group’s technology division NextChem, through its subsidiary KT TECH SpA, also signed a Basic Engineering, Critical and Proprietary Equipment Supply Agreement with Samsung E&A in connection with its proprietary NX AdWinMethanol®Zero technology supply to the project. Transition Industries is jointly developing the Pacif
Westinghouse and ITER Sign a $180M Contract to Advance Nuclear Fusion30.6.2025 16:45:00 EEST | Press release
Westinghouse Electric Company and ITER signed a contract for $180 million for the assembly of the vacuum vessel for the fusion reactor. This is a key milestone in the construction of the ITER reactor, leading the way toward the use of fusion as a practical future source of reliable carbon-free energy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630497810/en/ The ITER Tokamak pit with the two vacuum vessel sector modules installed. Westinghouse has participated in the fabrication of the sectors of the vacuum vessel, as part of the Fusion for Energy (F4E) Consortium with its partners Ansaldo Nucleare and Walter Tosto. Westinghouse will be responsible for completing the vacuum vessel which is ITER’s most critical component: a hermetically sealed, double-walled steel container that will house the fusion plasma. When all the vacuum vessel sectors are in place, Westinghouse will start the most intensive stage of ITER assembl
Monetate Acquires SiteSpect to Deliver AI-Native Personalization and Testing at Enterprise Scale30.6.2025 16:00:00 EEST | Press release
Monetate, the leading AI-driven personalization platform, today announced it has acquired SiteSpect, a leader in A/B testing, to drive next-generation digital experience optimization. This acquisition accelerates Monetate’s vision to deliver intelligent, intentional, and individualized experiences at scale, powered by agentic AI and backed by the industry’s most advanced, enterprise-grade infrastructure. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250630514541/en/ The combination of Monetate’s real-time personalization and SiteSpect’s zero-flicker testing will yield an industry-first solution for enterprise-grade personalization, testing, and optimization. For the first time, global ecommerce and digital experience leaders can access unified client-side and server-side experimentation with full personalization capabilities in a single solution, designed for scalability and regulatory compliance. Monetate is now the only e
SS&C Blue Prism Recognized as a Gartner® Magic Quadrant™ RPA Leader for the Seventh Consecutive Year30.6.2025 16:00:00 EEST | Press release
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that SS&C Blue Prism has been recognized as a Leader in the 2025 Gartner Magic Quadrant for Robotic Process Automation (RPA). “We’re delighted SS&C Blue Prism has been named a Leader in the Gartner Magic Quadrant for Robotic Process Automation for the seventh year running,” said Bill Stone, CEO and Chairman of SS&C Technologies. “SS&C Blue Prism combines market-leading RPA and orchestration technologies with the latest artificial intelligence so organizations can tackle more complex tasks and dynamic business processes. We’ve scaled to more than 2,700 digital workers and AI agents across our own operations, resulting in over $200 million in annual savings. With SS&C leading the charge on deployment, customers can be confident in rolling out SS&C’s automation solutions securely, effectively, and responsibly.” More than 2,800 companies worldwide leverage SS&C Blue Prism for AI-powered automation, helping organizations delive
Takeda Announces U.S. FDA Approval of GAMMAGARD LIQUID ERC, the Only Ready-to-Use Liquid Immunoglobulin Therapy with Low Immunoglobulin A (IgA) Content 130.6.2025 15:00:00 EEST | Press release
Takeda(TSE:4502/NYSE:TAK) today announced that the U.S. Food and Drug Administration (FDA) has approved GAMMAGARD LIQUID ERC [immune globulin infusion (human)] with less than or equal to 2 µg/mL IgA in a 10% solution, the only ready-to-use liquid immunoglobulin (IG) therapy with low immunoglobulin A (IgA) content, as replacement therapy for people two years of age and older with primary immunodeficiency (PI). As a ready-to-use liquid, GAMMAGARD LIQUID ERC may help ease the administration burden for patients and their health care providers by eliminating the need for reconstitution and can be administered intravenously or subcutaneously.1 “The approval of GAMMAGARD LIQUID ERC reinforces our commitment to supporting individualized treatment approaches for people with primary immunodeficiency, including a therapeutic option that has the lowest IgA content of any ready-to-use liquid immunoglobulin therapy, and can be administered intravenously or subcutaneously,” said Kristina Allikmets, s
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom