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US Stablecoin Settlement: Visa has officially launched stablecoin settlement services for its U.S. banking network, using Circle's USDC over the Solana blockchain.
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Initial Participants: Cross River Bank and Lead Bank are the first U.S. financial institutions to participate, with broader availability planned through 2026.
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Operational Benefits: The framework allows for seven-day settlement windows, offering banks and financial technology companies a faster, more programmable option for treasury operations compared to the traditional five-business-day system.
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Solana's Institutional Growth: The choice of Solana-native USDC highlights the network's growing institutional appeal, following recent activities from firms like JPMorgan and State Street on the blockchain.
Visa Selects Solana for USDC Settlement in the US
Visa has rolled out its stablecoin settlement service in the United States, allowing U.S. issuer and acquirer partners to settle transactions using Circle’s USDC stablecoin over the Solana blockchain. This move is a major step in the payment giant's strategy to modernize its core settlement layer. Initial participants in the service include Cross River Bank and Lead Bank, with plans for broader U.S. availability extending through 2026.
Enhanced Efficiency for Financial Institutions
The USDC settlement service is designed to address the demand from financial institutions for faster, more programmable settlement options. It provides a significant operational advantage by offering seven-day availability, allowing banks to settle transactions across weekends and holidays, which is a key improvement over traditional treasury operations. Visa Global Head of Growth Products, Rubail Birwadker, stated the goal is to deliver a reliable, bank-ready capability that improves treasury efficiency while maintaining Visa's high standards for security and compliance.
Solana and Regulatory Tailwinds
The choice of Solana-native USDC underscores the institutional appetite for the high-throughput network, which has recently seen significant activity from Wall Street firms, including a debt offering from JPMorgan and plans for a tokenized fund from State Street and Galaxy. This institutional confidence is backed by the U.S. regulatory climate following the passage of the GENIUS Act, the nation's first federal stablecoin framework. Visa's launch follows other recent stablecoin initiatives, including the rollout of its stablecoin advisory practice and its role as a design partner for Circle’s Arc Layer 1 blockchain.
