Visa Introduces Stablecoin Settlements in the US, Powered by USDC on Solana

Visa simply launched a stablecoin settlement within the US utilizing Circle’s dollar-pegged digital asset USDC.

The transfer will enable U.S. issuers and acquirer companions to settle transactions on the blockchain, beginning with the Solana community.

This transfer marks an vital step in Visa’s pilot program to combine stablecoins into international commerce.

Visa’s US stablecoin settlement framework is designed to allow seven-day settlement home windows for elevated pace and liquidity, permitting banks and fintechs to settle transactions daily as a substitute of simply 5 enterprise days.

It additionally modernizes liquidity and treasury administration with automated, superior operations for banks.

Says Visa’s World Head of Progress Merchandise Ruail Birwadker:

“Visa is increasing stablecoin settlement as our banking companions will not be solely asking for it but additionally making ready to leverage it.

Monetary establishments are searching for sooner, programmable settlement choices that combine seamlessly with their current treasury operations. By bringing USDC funds to the US, Visa is delivering a dependable, bank-ready choice that improves treasury effectivity whereas sustaining the safety, compliance and resiliency requirements our community requires.”

The primary members embody Cross River Financial institution and Lead Financial institution.

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