Visa has expanded its stablecoin settlement capabilities across Central and Eastern Europe, the Middle East, and Africa (CEMEA) through a partnership with Aquanow, a digital assets infrastructure and liquidity provider.
The collaboration integrates Aquanow’s digital asset infrastructure with Visa’s technology stack, allowing issuers and acquirers on Visa’s network to settle transactions using approved stablecoins such as USDC.
The move aims to reduce costs, operational friction, and settlement times for participating financial institutions.
Demand for faster and more cost-efficient cross-border settlement has grown among banks and payment providers.
In response, Visa is using stablecoins to digitise backend money movement and support 365-day settlement cycles.
The company began exploring this approach in 2023, becoming one of the first major payments networks to enable clients to meet settlement obligations in USDC.
Monthly volume linked to this process has since reached an annualised run rate of more than US$2.5 billion.
“By harnessing the power of stablecoins and pairing them with our trusted global technology, we are enabling financial institutions in CEMEA to experience faster and simpler settlements,”
said Godfrey Sullivan, Head of Product and Solutions for CEMEA at Visa.
“Our partnership with Aquanow is another key step in modernising the back-end rails of payments, reducing reliance on traditional systems with multiple intermediaries, and preparing institutions for the future of money movement.”
Aquanow CEO Phil Sham said:
“Visa’s reliable global network has long moved money securely and efficiently. Together, Visa and Aquanow are unlocking new ways for institutions to participate in the digital economy, leveraging stablecoin technology to settle with the speed and transparency of the internet.”
Featured image credit: Aquanow
This article first appeared on Fintech News Middle East
