Visa has partnered with digital asset platform Aquanow to enhance its stablecoin settlement capabilities in the Central and Eastern Europe, Middle East, and Africa (CEMEA) region.
Aquanow’s digital asset infrastructure is now integrated with Visa’s technology, allowing issuers and acquirers to settle transactions using approved stablecoins like USDC. This partnership aims to reduce costs, minimize operational friction, and accelerate settlement times, according to Aquanow.
Visa was among the first major payment networks to settle transactions in stablecoins, piloting USDC settlements in 2023. The initiative has since achieved a monthly volume exceeding a $2.5 billion annualized run rate.
Recently, Visa announced pilot trials for USD-backed stablecoin payouts to creators and gig workers. “By harnessing the power of stablecoins and pairing them with our trusted global technology, we are enabling financial institutions in CEMEA to experience faster and simpler settlements,” said Godfrey Sullivan, head of product and solutions for CEMEA at Visa.
Additionally, Visa has collaborated with Wirex to introduce stablecoin settlement on the Stellar blockchain, facilitating on-chain settlements for card payments using USDC and EURC in partnership with the Stellar Development Foundation (SDF).