Visa has announced the next phase of its efforts to modernize cross-border money movement. The company is expanding its stablecoin settlement capabilities to the high-performance Solana blockchain and partnering with merchant acquirers Worldpay and Nuvei.
Through live pilots with issuers and acquirers, Visa has already transferred millions in USDC between partners via the Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized through VisaNet.
The Visa Settlement Ecosystem
When consumers use a Visa card to shop at millions of merchant locations globally, they experience near-real-time payment authorization. Behind the scenes, funds must move between:
- The consumer's bank (issuer)
- The merchant's bank (acquirer)
Visa's funds movement and settlement systems facilitate:
- Clearing
- Settlement
- Transfer of billions of daily transactions
- Multi-currency conversions across nearly 15,000 financial institutions globally
👉 Discover how blockchain is transforming payments
Building on the Crypto.com Pilot
In 2021, Visa began testing USDC in its financial operations, leading to a successful pilot with Crypto.com that:
- Enabled cross-border payments for Crypto.com's Australian Visa card program
- Reduced settlement times from days to minutes
- Eliminated expensive wire transfers
Jeremy Allaire, Circle Co-Founder and CEO, noted: "Circle built USDC to provide a functional digital dollar that moves at internet speed. Visa's innovation combined with USDC is paving the future for payments."
Expanding to Acquirer Settlements
Visa now enables acquirers to receive USDC settlements, benefiting:
- Merchants: Faster access to funds
- Blockchain-native businesses: Prefer stablecoin settlements
- Global commerce: More efficient cross-border transactions
Solana Blockchain Integration
Visa added Solana support due to its:
- 400ms block times
- 400+ TPS capacity
- 2,000+ TPS during peak demand
- Lower transaction costs
This makes Visa one of the first major payment companies to use Solana for real-time settlements.
Strategic Partnerships
New collaborations with:
- Worldpay: "Provides more funding options for merchants"
- Nuvei: "Helps online businesses accelerate growth"
FAQ
Q: How does Visa's stablecoin settlement work?
A: Visa transfers USDC between partners via blockchain to settle fiat payments authorized through VisaNet.
Q: What are the benefits of blockchain settlement?
A: Faster transactions, lower costs, and reduced complexity compared to traditional wire transfers.
Q: Which blockchains does Visa support?
A: Currently Ethereum and Solana, with potential for future expansion.
Q: How does this impact merchants?
A: Merchants gain faster access to funds and more settlement options.
👉 Learn about stablecoin innovations
Q: Is Visa planning more blockchain integrations?
A: Yes, Visa continues to explore digital currency innovations to improve money movement.
The Future of Digital Settlements
Visa's expansion into blockchain-based settlements represents a significant step toward modernizing global payments. By combining traditional finance infrastructure with emerging technologies, Visa is positioning itself at the forefront of the digital payments revolution.