Visa expands stablecoin settlement options to Solana

Quick Take

  • Visa expanded its USDC stablecoin settlement capabilities to Solana, forming partnerships with Worldpay and Nuvei for pilot programs.
  • The company said it already moved millions of USDC over the Solana and Ethereum blockchains to settle fiat payments through VisaNet.

Visa announced the expansion of its stablecoin settlement capabilities to include the Solana SOL + blockchain, in addition to existing capabilities on Ethereum ETH + . The company said it partnered with merchant acquirers Worldpay and Nuvei for pilot programs.

As part of live pilots, Visa has already moved millions of USDC -0.01% between its partners over the Solana and Ethereum blockchain networks to settle fiat-denominated payments authorized over VisaNet, the payments giant detailed in a press release.

Cuy Sheffield, Head of Crypto at Visa, stated that the move aims to speed up cross-border settlements and provide a stablecoin payment option for clients. “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,” said Sheffield.

Worldpay and Nuvei are fintech companies serving merchants across various sectors. With Visa’s support, they expect to offer merchants the option to receive payments in stablecoins like USDC.


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This announcement also marks Visa’s inclusion of Solana as a supported blockchain for settlements, making it one of the first major payment companies to do so.

The headline was amended to clarify the expansion included only Solana. 

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About Author

Vishal Chawla is The Block’s crypto ecosystems editor and has spent over six years covering tech protocols, cybersecurity, artificial intelligence and cloud computing. Vishal likes to delve deep into blockchain intricacies to ensure readers are well-informed about the continuously evolving crypto landscape. He is also a staunch advocate for rigorous security practices in the space. Before joining The Block, Vishal held positions at IDG ComputerWorld, CIO, and Crypto Briefing. He can be reached on Twitter at @vishal4c and via email at [email protected]