Visa has expanded its stablecoin settlement capabilities to merchant acquirers, launching pilots with Worldpay and Nuvei using the Solana blockchain. This follows successful trials with Crypto.com, where the Australian card program’s cross-border volume was paid for using Ethereum-based USDC. The integration of USDC into the Visa ecosystem is expected to shorten settlement periods for businesses that use their services. This is because Visa can now transmit money to USDC merchant acquirers like Worldpay and Nuvei, routing USDC payments to the merchants they serve. Jim Johnson, president of Worldpay Merchant Solutions, stated that Visa’s USDC settlement capacity would allow it to give merchants more options for receiving money and more effectively manage its treasury operations. Visa’s support of USDC has evolved from trial programs involving Crypto.com to integrations with Worldpay and Nuvei, two merchant payment processors. By integrating Visa’s traditional fiat ecosystem with stablecoins and the larger cryptocurrency space they serve, the payment processors are able to route USDC payments to the merchants they serve. Cuy Sheffield, the head of crypto at Visa, stated that using blockchains like Ethereum and Solana and stablecoins like the USDC can help increase the speed of cross-border settlements.

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Information	Details
Geography	North America
Countries	🇦🇺 🇺🇸
Sentiment	positive
Relevance Score	10
People	Cuy Sheffield, Jim Johnson
Companies	Nuvei, Solana, Ethereum, Crypto.com, Worldpay
Currencies	Ethereum, USD Coin, Bitcoin, Solana
Securities	None