Visa Expands Stablecoin Settlement on Solana for Faster Cross-Border Payments

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The global payments leader Visa has taken a bold step forward in the evolution of digital finance by expanding its stablecoin settlement capabilities to include the high-performance Solana blockchain. This strategic move marks a significant milestone in the integration of blockchain technology into mainstream financial infrastructure, enabling faster, more efficient cross-border transactions through the use of stablecoins like Circle’s USDC.

Backed by successful pilot programs with major merchant acquirers Worldpay and Nuvei, Visa is demonstrating how traditional payment networks can leverage decentralized technologies to modernize settlement processes. These live trials have already seen millions of USDC transferred across both Solana and Ethereum blockchains to settle fiat-denominated payments initially authorized via VisaNet—the company’s core payment processing network.

Modernizing Cross-Border Money Movement

Cross-border payments have long been plagued by delays, high fees, and operational complexity. Visa’s new initiative directly addresses these challenges by utilizing stablecoins as a bridge between digital and traditional finance.

“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,”
— Cuy Sheffield, Head of Crypto at Visa

Instead of relying solely on slow and costly international wire transfers, Visa can now push settlements directly on-chain to acquiring partners. This shift not only reduces settlement time from days to minutes but also enhances transparency and reconciliation efficiency.

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Building on Early Success with Blockchain Settlements

Visa’s journey into blockchain-based settlements began in 2021 with a pilot program involving Crypto.com. In that collaboration, the company used USDC on the Ethereum network to receive payments for cross-border transaction volumes generated by Crypto.com Visa cardholders in Australia.

Before the pilot, card users faced multi-day delays due to currency conversion and legacy banking processes. With blockchain settlement, Crypto.com could instantly transfer USDC to a Circle-managed account under Visa’s treasury, drastically cutting processing times and operational overhead.

This early success laid the foundation for broader adoption. Today, Visa is no longer just receiving funds via blockchain—it’s actively disbursing them, signaling a maturation of its crypto integration strategy.

Enabling On-Chain Payouts to Merchant Acquirers

The latest expansion shifts focus from issuer-side settlements to acquirer-side disbursements. Visa can now send funds directly on-chain to merchant acquirers such as Worldpay and Nuvei, who in turn serve a wide array of digital-native businesses.

These include:

For these sectors, fast and reliable settlement is critical. Traditional banking rails often fail to meet their needs due to batch processing cycles and limited weekend operations. Blockchain-based settlements offer 24/7 availability, near-instant finality, and lower counterparty risk.

Philip Fayer, Chair and CEO of Nuvei, emphasized the transformative potential:

“Stablecoins like USDC are cutting-edge payments technology that can enable online businesses around the world to accelerate their growth.”

Why Solana? Speed, Scalability, and Efficiency

Visa’s decision to integrate Solana wasn’t arbitrary. The blockchain stands out for its exceptional performance metrics:

These characteristics make Solana one of the few blockchains capable of supporting enterprise-grade payment volumes with minimal latency and low transaction costs—key requirements for a company of Visa’s scale.

By adopting Solana alongside Ethereum, Visa gains flexibility: Ethereum offers robust security and widespread adoption, while Solana delivers speed and cost efficiency. Together, they form a powerful dual-rail settlement infrastructure.

👉 See how high-speed blockchains are powering the future of finance.

The Growing Role of Stablecoins in Traditional Finance

Visa’s move reflects a broader trend: stablecoins are no longer niche tools for crypto traders—they’re becoming integral components of the global financial system.

In August 2023, PayPal launched its own U.S. dollar-backed stablecoin, PayPal USD (PYUSD), designed specifically for use in Web3 and digital payment environments. This signals growing confidence among traditional financial institutions in the utility and regulatory viability of stable assets.

Even more telling is the growing influence of Tether (USDT), the world’s largest stablecoin issuer. As of Q2 2023:

This level of institutional backing underscores the stability and economic significance of well-reserved digital assets.

What This Means for the Future of Payments

Visa’s expansion into Solana-based settlements isn’t just a technical upgrade—it’s a strategic signal that digital currencies are ready for prime time. By partnering with established acquirers and leveraging proven blockchain networks, Visa is building a hybrid financial ecosystem where traditional and decentralized systems coexist seamlessly.

Looking ahead, we can expect:

As digital economies grow, so will the demand for instant, secure, and globally accessible payment solutions. Visa’s latest initiative positions it at the forefront of this transformation.

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Frequently Asked Questions (FAQ)

Q: What is a stablecoin?
A: A stablecoin is a type of cryptocurrency designed to maintain a stable value by being pegged to a reserve asset, such as the U.S. dollar. Examples include USDC and USDT.

Q: Why is Visa using Solana for settlements?
A: Solana offers extremely fast transaction speeds (400ms block times), high throughput (up to 2,000 TPS), and low fees—making it ideal for real-time payment settlements at scale.

Q: How does on-chain settlement benefit merchants?
A: It enables faster payout cycles (minutes instead of days), reduces reliance on banks, lowers transaction costs, and improves cash flow predictability.

Q: Is USDC regulated?
A: Yes, USDC is issued by Circle and operates under U.S. financial regulations. It undergoes regular audits and maintains full reserve backing.

Q: Can any business use this new Visa settlement method?
A: Currently, it's available through pilot programs with select partners like Worldpay and Nuvei. Wider rollout will depend on regulatory alignment and infrastructure readiness.

Q: Does this mean Visa is replacing traditional banking rails?
A: No—this is an enhancement, not a replacement. VisaNet remains central to authorization; blockchain is used only for settlement between parties.

Core Keywords:

This development underscores a pivotal shift in finance—one where innovation meets reliability, and where global payments are reimagined for the digital age.