Visa’s USDC Blockchain Gambit: Pay Day or Panic? 🤔

by

Visa, that most stalwart of payment gatekeepers, has decided to “modernize” its settlement layer by slapping a blockchain on it like a toddler with a glue stick and a dream. Using Circle’s USDC on Solana, they’ve launched stablecoin settlements in the US. Because nothing says “innovation” like pretending weekends don’t exist. 🌟

Visa Expands USDC Settlement To The US

On Tuesday, Visa revealed it’s now letting US financial institutions settle transactions in USDC. Because who wouldn’t want to move money faster over blockchains, seven days a week, while somehow managing to keep the consumer experience “unchanged”? It’s like magic, but with more fees and less magic. ✨

Initial participants? Cross River Bank and Lead Bank. Names as thrilling as a spreadsheet. They’re already settling on Solana, while the rest of us await the 2026 rollout. Because nothing says “urgent innovation” like a five-year timeline. 🕒

Visa also plans to use Circle’s new Arc blockchain (currently in public testnet, because why not?) to operate a validator node. A Layer 1 solution to a problem that didn’t exist yesterday. 🤯

This is a “milestone,” according to Visa, in its quest to modernize the settlement layer underpinning global commerce. Because nothing says “commerce” like a blockchain that’s 99% buzzwords and 1% actual money. 💸

Back in 2021, Visa dabbled in USDC settlements. By 2023, they were “pioneering.” Now, they’ve got 130+ card programs in 40+ countries. A staggering achievement if you ignore the fact that it’s just a glorified ledger with better marketing. 📊

Last month, they expanded to CEMEA with Aquanow. Because why stop at one region when you can confuse everyone at once? 🌍

“Banks aren’t just asking-they’re preparing to use it,” said Rubail Birwadker. A profound statement that somehow implies financial institutions are now proactive. Groundbreaking. 🤷‍♂️

Circle’s Nikhil Chandhok praised USDC’s “transparency and trust.” Because nothing says “trust” like a stablecoin backed by… well, let’s not go there. 🤬

Visa’s New Stablecoin Advisory Unit

Visa has also launched a Stablecoins Advisory Practice (SAP). Because if you’ve got a problem with stablecoins, you’ll definitely need a consultant to fix it. SAP offers services like “market entry planning” and “Technology enablement,” because nothing screams “technology” like a hyphenated buzzword. 🤝

They’ve recorded $3.5 billion in stablecoin settlements. A figure so large it’s impressive until you realize it’s still less than what’s lost to coffee spills annually. ☕

“Stablecoins may enhance speed and lower costs,” said Matt Freeman of Navy Federal Credit Union. A bold claim, given the only thing lower than the cost might be the sanity of anyone involved. 🧠

Read More

2025-12-17 10:15