Visa has announced a significant expansion of stablecoin settlement capabilities, now enabling web3 merchants to receive card payments in USDC (USD Coin) through partnering merchant acquirers Worldpay and Nuvei. This builds on its 2021 pilot with Crypto.com, which allowed the exchange to settle Visa card obligations using USDC on the Ethereum and Solana blockchains.
Key Developments in Visa’s Stablecoin Integration
Merchant-Centric Expansion:
- Eligible merchants (e.g., crypto on-ramps, NFT marketplaces, blockchain games) can opt for USDC settlements via Worldpay or Nuvei.
- Visa leverages a Circle account to facilitate USDC transfers to acquirers, who then disburse funds to merchants.
Cross-Border Efficiency:
"By leveraging stablecoins like USDC and global blockchain networks like Solana and Ethereum, we’re helping to improve the speed of cross-border settlement," emphasized Cuy Sheffield, Visa’s Head of Crypto.
Crypto.com’s Rollout:
- Currently live in Australia, with plans to expand to other markets.
Why This Matters for Web3 Commerce
- Treasury Flexibility: Jim Johnson of Worldpay notes this enables "more choices for receiving funds [and] diversifying funding options."
- Settlement Speed: Blockchain-based settlements reduce traditional banking delays.
- Sector-Specific Adoption: Targets crypto-native businesses first, with potential for broader fintech integration.
👉 Explore how stablecoins are reshaping payments
Visa’s Broader Digital Currency Strategy
Beyond stablecoins, Visa is actively involved in:
| Initiative | Description |
|--------------------------|---------------------------------------------|
| CBDC Projects | Collaborations with central banks globally. |
| Deposit Tokens | Trials in Brazil and UK’s Regulated Liability Network. |
FAQs
Q: Which stablecoins does Visa support?
A: Currently USDC, with potential for others in the future.
Q: Can traditional merchants use this service?
A: Initially for crypto-focused businesses, but expansion is likely.
Q: How does Visa ensure regulatory compliance?
A: Partners with regulated entities (e.g., Circle, Worldpay) and adheres to local financial laws.
👉 Learn more about blockchain-powered settlements
Visa’s move signals growing institutional confidence in blockchain-based financial infrastructure, bridging crypto and traditional payment ecosystems.