Stablecoins are rapidly transforming the global financial landscape, and Visa is at the forefront of this evolution. The global payments giant has announced a strategic expansion of its stablecoin settlement capabilities into Central and Eastern Europe, the Middle East, and Africa (CEMEA). This move underscores Visa’s commitment to modernizing cross-border payments by leveraging blockchain technology and digital assets.
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A Strategic Push Into Emerging Markets
Visa’s latest initiative focuses on making cross-border transactions faster, cheaper, and more accessible across high-potential emerging markets. To achieve this, the company has formed a key partnership with Yellow Card, a leading pan-African fintech platform licensed across multiple African countries. This collaboration will explore innovative use cases for stablecoins, including optimizing business liquidity management and streamlining financial operations for enterprises.
By integrating stablecoin settlements into its network, Visa enables financial institutions and merchants to receive funds in USDC (USD Coin), a leading dollar-pegged stablecoin. This allows for near-instant settlement, reduced reliance on traditional correspondent banking, and 24/7 transaction processing—critical advantages in regions where banking infrastructure can be inconsistent or underdeveloped.
$225 Million in Stablecoin Transactions Processed Since 2023
Since launching its pilot stablecoin settlement system in 2023, Visa has processed over $225 million in USDC transactions for participating clients. These transactions are settled directly on the blockchain, bypassing traditional clearing layers and significantly reducing both time and cost.
Godfrey Sullivan, Senior Vice President and Head of Product and Solutions for the CEMEA region at Visa, emphasized the growing importance of stablecoins:
“In 2025, we believe that every institution that moves money will need a stablecoin strategy.”
This forward-looking statement reflects Visa’s vision of a hybrid financial ecosystem where traditional payment rails coexist with blockchain-based solutions to deliver greater efficiency and inclusion.
From Crypto.com to Merchant Acquirers: Scaling the Network
Visa’s journey into stablecoin settlements began with Crypto.com, its first client on the network. Initially, Crypto.com converted user cryptocurrency into USDC, which was then converted into fiat for settlement. Today, the process is streamlined—Crypto.com can now settle directly with Visa in USDC, eliminating unnecessary conversion steps and reducing friction.
Building on this success, Visa extended its settlement services in September 2023 to major merchant acquirers like Worldpay and Nuvei. This expansion allows merchants to receive payments in USDC, giving them greater flexibility in managing digital assets while maintaining compatibility with existing financial systems.
These partnerships highlight Visa’s strategy of embedding stablecoin capabilities into the backbone of global commerce—not as a replacement for fiat, but as a complementary tool that enhances speed, transparency, and operational resilience.
Bridging Traditional Finance and Digital Currency
The collaboration with Yellow Card is more than a technical integration—it’s a bridge between legacy financial systems and the future of money movement. Chris Maurice, CEO of Yellow Card, stated:
“Together with Visa, we’re building a bridge between traditional finance and the future of money movement.”
This partnership aims to unlock new opportunities for African businesses by enabling faster access to international markets and improving liquidity management through digital dollars. For small and medium-sized enterprises (SMEs), this could mean quicker access to working capital and reduced exposure to currency volatility.
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Supporting Infrastructure: VTAP and Strategic Investments
To support these advancements, Visa launched the Visa Tokenized Asset Platform (VTAP)—a dedicated infrastructure designed to facilitate the issuance, transfer, and settlement of tokenized assets, including stablecoins. VTAP provides a secure and compliant environment for financial institutions to experiment with blockchain-based solutions at scale.
In addition to platform development, Visa has made strategic investments in firms advancing stablecoin adoption. One notable example is its investment in BVNK, a business-focused fintech enabling companies to manage multi-currency accounts and make global payments using stablecoins.
These moves signal Visa’s long-term commitment to digital currency innovation—not just as a payment processor, but as an enabler of next-generation financial infrastructure.
Understanding Stablecoins: The Backbone of Modern Payments
Stablecoins are digital currencies designed to maintain price stability by being pegged to reserve assets like the U.S. dollar. Unlike volatile cryptocurrencies such as Bitcoin or Ethereum, stablecoins offer the benefits of blockchain—speed, transparency, and decentralization—without the price swings.
They are increasingly used for:
- Cross-border remittances
- Merchant payments
- Liquidity management
- Treasury operations
In emerging markets, where access to reliable banking services may be limited, stablecoins provide a viable alternative for storing value and conducting transactions securely and efficiently.
Frequently Asked Questions (FAQ)
Q: What is a stablecoin?
A: A stablecoin is a type of cryptocurrency designed to maintain a stable value by being backed by reserves such as the U.S. dollar or other assets. USDC is one of the most widely used dollar-pegged stablecoins.
Q: How does Visa use stablecoins for settlements?
A: Visa uses USDC on public blockchains to enable instant settlement between partners. Financial institutions and merchants can receive payments in USDC, reducing reliance on traditional banking networks and lowering transaction costs.
Q: Why is Visa expanding into CEMEA regions?
A: Central and Eastern Europe, the Middle East, and Africa represent high-growth markets with increasing demand for faster, more efficient cross-border payment solutions. Stablecoins address key challenges like slow settlement times and limited banking access.
Q: Is this replacing traditional fiat currency?
A: No. Visa views stablecoins as a complementary tool that enhances existing financial systems by offering faster settlement, lower costs, and 24/7 availability—without replacing fiat currencies.
Q: Which stablecoin does Visa use?
A: Visa currently uses USDC (USD Coin) for its settlement pilot programs. USDC is regulated, transparently audited, and widely adopted across the digital asset ecosystem.
Q: Can any business use Visa’s stablecoin settlement service?
A: Currently, the service is available to select financial institutions and merchant acquirers in licensed markets. Expansion plans are ongoing as regulatory frameworks evolve.
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Final Thoughts
Visa’s expansion into stablecoin settlements across CEMEA marks a pivotal moment in the convergence of traditional finance and digital assets. By partnering with innovators like Yellow Card and investing in infrastructure such as VTAP, Visa is not only future-proofing its network but also driving financial inclusion in underserved regions.
As the world moves toward a more interconnected and digital economy, stablecoins are poised to play a central role—and Visa is ensuring it remains at the heart of that transformation.