Visa is enhancing its presence in the stablecoin market by expanding its settlement capabilities across the Europe, Middle East, and Africa (CEMEA) region, allowing for USD cross-border transactions via blockchain technology.
Stablecoin adoption is surging, with a remarkable $27 trillion in total transaction volume globally across 1.25 billion transactions projected for 2024, as per Visa’s analysis. The company states that this new initiative will help reduce settlement costs, improve liquidity management, and enable 365-day settlements, including weekends and holidays.
In 2023, Visa was among the first major payment networks to settle transactions in stablecoin, piloting USDC transactions. Since then, over $225 million in stablecoin volume has been processed through its network.
Visa has escalated its investments in this sector, acquiring a stake in the stablecoin infrastructure platform BVNK and forming a partnership with Stripe-owned Bridge to enhance access to stablecoin-linked cards. This new issuing product will enable fintech developers using Bridge to offer Visa cards linked to stablecoins for customers across various countries through a single API integration. Cardholders will be able to make everyday purchases using stablecoin balances at any outlet that accepts Visa.
Godfrey Sullivan, Visa’s SVP and head of product and solutions for CEMEA, stated, “In 2025, we believe that every institution moving money will need a stablecoin strategy. As the payments ecosystem evolves, Visa is prepared to assist our partners in navigating this transformation, leveraging our scale, trust, and innovation to create the next generation of global payments.”
Additionally, Visa has partnered with pan-African fintech Yellow Card to explore stablecoin use cases in various licensed markets. This collaboration aims to streamline treasury operations and improve liquidity management while investigating cross-border payment options through Visa Direct.
Chris Maurice, co-founder and CEO of Yellow Card, remarked, “Together with Visa, we’re building a bridge between traditional finance and the future of money movement. We look forward to innovating new solutions that can transform how money moves, ensuring more secure, efficient, and transparent payment solutions.”