Visa Launches Stablecoin Settlement in US

Visa Inc has launched USDC settlement in the United States, allowing issuer and acquirer partners to settle transactions using Circle’s USDC stablecoin. This improvement is part of Visa's efforts to modernize its global commerce settlement layer.

Key Points:

The settlement allows faster fund movement over blockchains and operates 24/7, enhancing operational resilience.
Initial banking participants include Cross River Bank and Lead Bank, utilizing Visa and USDC over the Solana blockchain.
Visa plans to use Circle’s Layer 1 blockchain Arc for USDC settlements and operate a validator node when Arc becomes live.
Visa recently launched a Stablecoins Advisory Practice for banks and fintechs, aiding in stablecoin technology and cross-border payments.
Partnership with crypto fintech Aquanow extends stablecoin settlement options across CEMA regions.

This push aligns with recent regulatory developments, including the passing of the GENIUS Act, influencing Visa's expansion into stablecoin services.