Visa is expanding its stablecoin settlement capabilities to the Solana blockchain and is also working with merchant acquirers Worldpay and Nuvei.
In brief:
-Visa has already moved millions of the USDC stablecoin between its partners over the Solana and Ethereum blockchain networks
-The payments giant has been working with issuers on stablecoins since 2021
-It is now looking into settlement options to send funds onchain to acquirers like Worldpay and Nuvei to help speed up settlement times for their merchants
What does this mean?
“By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury,” says Cuy Sheffield, head of crypto, Visa.
