SAN FRANCISCO— Visa said it is allowing U.S. banks to settle certain payments using Circle’s USDC stablecoin, a step that underscores how stablecoins are edging closer to the financial mainstream as institutions seek faster, always-on payment infrastructure.
The payments giant said the new capability is being formally launched within its U.S. network after several years of testing, including pilot programs overseas. Under the program, approved issuers and acquirers can move funds over the Solana blockchain using USDC, a dollar-pegged stablecoin issued by Circle.
Cross River Bank and Lead Bank are the first U.S. institutions participating in the program, Visa said. The company plans a broader rollout to additional banks through 2026.
Quicker Settlement
Visa said the integration allows banks to settle transactions more quickly, extend settlement windows to seven days a week and manage liquidity more efficiently, without changing how consumers use their Visa cards. From the customer’s perspective, card payments will function the same way, while the underlying settlement between institutions occurs using blockchain technology.
The system is designed to make treasury operations as seamless as using a blockchain wallet, while maintaining the risk management, compliance and controls required of a global payments network, Visa said.
“Visa is expanding stablecoin settlement because our banking partners are not only asking about it — they’re preparing to use it,” said Rubail Birwadker, Visa’s global head of growth products and strategic partnerships. “Financial institutions are looking for faster, programmable settlement options that integrate seamlessly with their existing treasury operations.”
Building on International Pilots
The U.S. launch builds on Visa’s international stablecoin pilots, which have exceeded an annualized $3.5 billion in stablecoin transaction volumes as of November, the company said. Visa was among the first major payment networks to begin testing stablecoin settlement in 2023 and has since expanded to support additional blockchains and digital tokens as it broadens its crypto-related offerings.
