- VISA is expanding its stablecoin settlement capabilities in Central and Eastern Europe, the Middle East, and Africa.
- The company formed a partnership with African fintech firm Yellow Card to support stablecoin payments in licensed markets.
- Visa aims to make cross-border payments faster and more accessible using blockchain technology and stablecoins.
- Since 2023, Visa has processed over $225 million in stablecoin transactions for participating clients using USDC.
- The initiatives include ongoing support for digital currency infrastructure and follow partnerships with companies like crypto.com and merchant acquirers such as Worldpay and Nuvei.
Visa has begun extending its stablecoin settlement service to select financial institutions in Central and Eastern Europe, the Middle East, and Africa, with a focus on making cross-border payments and settlements more efficient. The company announced a new partnership with Yellow Card, a pan-African fintech business, to explore stablecoin uses in countries where Yellow Card is licensed.
Visa reported that its pilot stablecoin settlement system has processed more than $225 million in transactions in U.S. dollars using the USDC stablecoin. The service helps participating clients settle card transactions directly on blockchain, aiming to lower costs and provide round-the-clock transaction capabilities. “In 2025, we believe that every institution that moves money will need a stablecoin strategy,” said Godfrey Sullivan, Senior Vice President and Head of Product and Solution for the CEMEA region at Visa.
The company’s first stablecoin settlement client was Crypto.com. Initially, Crypto.com users spent cryptocurrency that was converted to USDC, which then had to be switched to fiat currency for settlement. Now, they can directly settle with Visa in USDC. In September 2023, Visa extended these settlement services to merchant acquirers like Worldpay and Nuvei, letting merchants receive payments in USDC.
The collaboration with Yellow Card will explore new ways to use stablecoins in Africa, including streamlining financial operations and helping businesses manage liquidity. “Together with Visa, we’re building a bridge between traditional finance and the future of money movement,” said Chris Maurice, CEO of Yellow Card.
These announcements continue Visa’s efforts to support digital currencies. Last year, the company launched the Visa Tokenized Asset Platform (VTAP), which is designed to handle stablecoins and blockchain-based deposits. Visa also recently invested in the business-focused stablecoin payments firm BVNK.
Stablecoins are digital currencies designed to maintain a steady value, usually by pegging to traditional assets like the U.S. dollar. They are increasingly used to enable quicker and more reliable payments, especially in emerging markets where banking infrastructure can be limited.
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