The global payments giant Visa has taken a significant leap forward in embracing digital currency innovation by expanding its use of stablecoins for cross-border settlements. In a strategic move announced in early September, Visa is deepening its collaboration with merchant acquirers Worldpay and Nuvei to pilot USDC—a leading dollar-backed stablecoin—for real-time blockchain-based settlements across the Solana and Ethereum networks.
This development marks a pivotal moment in the evolution of financial infrastructure, demonstrating how traditional payment systems are integrating blockchain technology to enhance speed, reduce costs, and increase efficiency in global commerce.
Visa’s Journey into Blockchain Settlements
Visa has been actively exploring the potential of blockchain and digital currencies since 2021. That year, it began testing USDC (USD Coin) as a settlement mechanism in partnership with Crypto.com. This pilot allowed Visa to receive payments in USDC over the Ethereum network for real-time card transactions originating from Australia. Today, Crypto.com uses USDC to fulfill its settlement obligations on its Visa card program in Australia—with plans to expand this model globally.
Before this integration, cross-border settlements involving Crypto.com’s Visa cards required days due to traditional banking processes like currency conversion and international wire transfers. Now, funds can be sent directly in USDC from Crypto.com to a Circle-managed account under Visa’s control via the Ethereum blockchain—dramatically reducing settlement time and complexity.
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Scaling Up: Integration with Worldpay and Nuvei
Building on this early success, Visa is now broadening its stablecoin settlement capabilities by partnering with two major payment processors: Worldpay and Nuvei. These companies serve merchants across diverse industries—including fintech gateways, gaming platforms, and NFT marketplaces—many of which operate within or interact closely with the crypto economy.
Through these pilots, Visa can now send USDC settlements from its own Circle account directly to Worldpay and Nuvei, who then distribute the funds to their respective merchants. This end-to-end blockchain-enabled process streamlines what was once a multi-day, multi-step banking operation into a near-instantaneous digital transaction.
Jim Johnson, President of Merchant Solutions at Worldpay, emphasized the strategic value:
"Visa’s USDC settlement capability enables us to bring more financial operations in-house and offer merchants greater flexibility in how they receive payments. In today’s fast-moving commercial landscape, having diverse and agile payment options is essential."
Why Solana? Speed and Scalability
While Ethereum remains a cornerstone of decentralized finance, its limitations in speed and transaction cost during peak times have prompted Visa to adopt additional blockchain networks. Enter Solana, known for its high throughput and low latency.
Visa has now become one of the first major payment networks to leverage Solana at scale for real-time customer settlements. The Solana blockchain produces blocks every 400 milliseconds and handles an average of 400 transactions per second (TPS), with capacity surging beyond 2,000 TPS during high-demand periods.
By supporting both Ethereum and Solana, Visa offers its partners the flexibility to choose the optimal network based on performance needs, cost considerations, and technical requirements—ensuring seamless integration regardless of volume or geography.
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The Role of USDC in Modern Finance
USDC, issued by Circle, is a regulated, fully reserved digital dollar designed for fast, secure, and transparent transfers over the internet. Jeremy Allaire, Circle’s Co-Founder and CEO, praised Visa’s initiative:
"Visa and its partners are driving foundational blockchain innovation. USDC was built to function as a digital version of the U.S. dollar—moving at internet speed while maintaining trust and compliance. This expanded pilot shows the transformative potential when USDC meets Visa’s global payment infrastructure."
For businesses operating internationally, particularly in digital-native sectors like gaming, DeFi, and e-commerce, receiving payments in stablecoins like USDC eliminates delays associated with traditional banking rails. It also reduces counterparty risk and foreign exchange friction.
Philip Fayer, Chairman and CEO of Nuvei, echoed this sentiment:
"Stablecoins like USDC represent cutting-edge payment technology that can accelerate growth for online businesses worldwide. Optimizing cross-border transactions is just one of many ways stablecoins add value. We’re proud to collaborate with Visa to bring these innovations to our partners."
Core Keywords Driving the Future of Payments
This transformation is fueled by several key trends shaping the future of digital finance:
- Stablecoin settlement
- Blockchain payments
- Cross-border transactions
- Real-time settlement
- Digital dollar (USDC)
- Payment innovation
- Cryptocurrency integration
- Financial infrastructure modernization
These keywords reflect not only current industry momentum but also growing user intent around faster, cheaper, and more reliable global money movement.
Frequently Asked Questions (FAQ)
What is stablecoin settlement?
Stablecoin settlement refers to using digital currencies pegged to stable assets—like the U.S. dollar—to transfer value between financial institutions or merchants. Unlike volatile cryptocurrencies such as Bitcoin or Ethereum, stablecoins like USDC maintain price stability, making them ideal for payments and settlements.
How does Visa use USDC for settlements?
Visa receives USDC from issuing partners (like Crypto.com) over blockchain networks such as Ethereum or Solana. It then sends those funds to acquiring partners like Worldpay and Nuvei via its Circle-managed wallet. These acquirers distribute the USDC to merchants or convert it into local fiat currency as needed.
Why is blockchain important for payment efficiency?
Traditional payment rails often involve multiple intermediaries, batch processing, and delays spanning days—especially for cross-border transactions. Blockchain enables near-instantaneous peer-to-peer transfers with verifiable transparency and lower operational overhead.
Can all merchants accept USDC today?
Not yet universally, but adoption is growing rapidly—especially among digital-first businesses such as online gaming platforms, crypto exchanges, NFT marketplaces, and fintech providers. As infrastructure improves, mainstream merchant acceptance is expected to expand.
Is this a sign that Visa is “going crypto”?
While Visa isn't replacing fiat currency with cryptocurrency, it is strategically integrating blockchain and stablecoins into its existing infrastructure to improve efficiency, reduce costs, and meet evolving customer demands. This reflects a broader trend of traditional finance adopting digital asset solutions where they provide clear advantages.
Will other stablecoins be used in the future?
Currently, the focus is on USDC due to its regulatory compliance, transparency, and widespread adoption. However, as standards evolve and new regulated tokens emerge, Visa may explore additional digital assets that meet security, scalability, and legal requirements.
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The Road Ahead: A More Connected Financial System
As financial services continue their digital transformation, Visa’s latest move underscores a critical shift: blockchain is no longer just a niche technology for crypto enthusiasts—it’s becoming a core component of global payment infrastructure.
By enabling real-time settlement through USDC on high-performance blockchains like Solana and Ethereum, Visa is helping build a more inclusive, efficient, and responsive financial ecosystem. This benefits not only large institutions but also small businesses and consumers who rely on fast, reliable transactions across borders.
With continued innovation and strategic partnerships, Visa is positioning itself at the forefront of the next generation of finance—one where digital dollars flow seamlessly across networks, empowering commerce at internet speed.