In a significant move bridging traditional finance with decentralized technology, Visa has broadened its stablecoin settlement capabilities to include USDC issued on the Solana blockchain. This development marks a pivotal evolution in how global payment networks are integrating blockchain-based assets into real-world financial operations.
Since its initial foray into cryptocurrency settlements in 2021, Visa has steadily advanced its infrastructure to support faster, more efficient cross-border transactions using digital assets. The latest integration with Solana underscores the company’s commitment to leveraging high-performance blockchains to enhance payment efficiency and scalability.
From Ethereum to Solana: The Evolution of Visa’s USDC Integration
Visa first began exploring stablecoin settlements in 2021 through a pilot program with Crypto.com, utilizing Ethereum-based USDC for cross-border payments. In that trial, Crypto.com’s Australian card program used USDC to settle international transaction volumes—replacing slow and costly traditional wire transfers with near-instant blockchain settlements.
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Prior to this collaboration, international settlements involving Visa cards issued by Crypto.com required multiple intermediaries, currency conversions, and incurred significant banking fees. By switching to USDC on Ethereum, the exchange streamlined its settlement process, reducing both time and cost.
Now, Visa is taking the next step by extending support to USDC on Solana—a blockchain known for its high throughput and low transaction fees. This expansion enables faster settlement cycles and opens new possibilities for real-time financial services across borders.
Live Pilots with Worldpay and Nuvei: Real-World Applications
Visa has announced live and completed pilots with major merchant acquirers—Worldpay and Nuvei—leveraging USDC across both Ethereum and Solana networks. These collaborations demonstrate how stablecoins can be used to transfer millions of dollars in value between financial partners efficiently and securely.
By integrating USDC into its settlement layer, Visa allows these payment processors to receive funds in digital dollars and route them directly to merchants they serve. This reduces reliance on legacy banking rails and enables near-instant reconciliation—especially valuable for businesses operating internationally.
Jim Johnson, President of Worldpay Merchant Solutions, emphasized the strategic advantage:
“Visa’s USDC settlement capability gives us greater flexibility in how we receive payments and manage treasury operations. It’s a step toward a more agile, future-ready financial infrastructure.”
The ability to move USDC across blockchains also highlights the interoperability potential within modern payment ecosystems. Whether it's settling obligations on Ethereum or leveraging Solana’s speed, Visa’s infrastructure now supports multiple blockchain rails under one unified framework.
Why Solana Matters in Visa’s Strategy
Solana’s inclusion is not incidental. Known for processing thousands of transactions per second at minimal cost, Solana offers a compelling alternative to Ethereum for high-frequency payment use cases—especially when speed and scalability are critical.
While Ethereum remains a foundational layer for decentralized finance (DeFi), its higher gas fees and slower confirmation times during peak usage make it less ideal for micro-settlements or rapid merchant payouts. Solana addresses these limitations, making it an attractive option for payment networks seeking real-time settlement capabilities.
Cuy Sheffield, Head of Crypto at Visa, affirmed this vision:
“Supporting blockchains like Ethereum and Solana, along with stablecoins like USDC, allows us to increase the speed and efficiency of cross-border payments. This is about building a better backbone for global commerce.”
With USDC now natively supported on both networks within Visa’s ecosystem, the door opens for broader adoption by banks, fintechs, and payment gateways looking to modernize their operations.
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Connecting Traditional Finance with Web3
This expansion goes beyond technical integration—it represents a deeper shift in how traditional financial institutions view digital assets. Stablecoins like USDC are no longer experimental tools but operational components of global payment infrastructure.
By enabling treasury teams to hold, transfer, and settle in programmable dollars, Visa is helping bridge TradFi (Traditional Finance) and Web3. Businesses can now manage liquidity across blockchains while maintaining compliance and stability—thanks to the regulated nature of USDC, which is backed 1:1 with U.S. dollar reserves.
Moreover, this development signals growing confidence in blockchain technology among institutional players. As more companies adopt multi-chain strategies, having interoperable stablecoin rails becomes essential for seamless value transfer.
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Frequently Asked Questions (FAQ)
Q: What is Visa’s role in USDC settlements?
A: Visa does not issue USDC but uses it as a settlement rail between partners. It enables payment processors like Worldpay and Nuvei to receive USDC from Visa’s network and disburse funds to merchants, streamlining cross-border transactions.
Q: Is USDC on Solana different from USDC on Ethereum?
A: While the token symbol (USDC) is the same, each version exists on its respective blockchain. However, all forms of USDC are backed 1:1 by U.S. dollar reserves and can be redeemed interchangeably through Circle’s redemption process.
Q: Why did Visa choose Solana for expansion?
A: Solana offers high-speed processing (up to 65,000 TPS) and low transaction costs—ideal for high-volume merchant settlements where speed and cost-efficiency matter.
Q: Can any business use Visa’s USDC settlement system?
A: Currently, access is limited to pilot programs with select partners like Worldpay and Nuvei. Broader adoption will likely roll out as regulatory clarity and infrastructure mature.
Q: Does this mean Visa is adopting cryptocurrency?
A: Not exactly. Visa is integrating stablecoins—digital versions of fiat currencies—as a tool for improving existing payment systems, not replacing them with speculative crypto assets.
Q: How does this affect consumers?
A: While end-users may not notice immediate changes, faster back-end settlements could lead to quicker refunds, reduced fees, and improved service reliability over time.
This strategic integration positions Visa at the forefront of financial innovation, demonstrating how legacy institutions can evolve alongside emerging technologies. As blockchain adoption grows, expect more players to follow suit—using stablecoins not just as digital cash, but as core infrastructure for tomorrow’s economy.