The global payments leader Visa has announced a new pilot program that enables merchants to receive USDC settlements over the Solana blockchain. This initiative marks a pivotal advancement in blockchain-based payment infrastructure, signaling growing institutional confidence in scalable, stablecoin-powered financial rails.
Expanding Stablecoin Settlement Infrastructure
Visa’s latest move builds on its ongoing exploration of digital currency integration. By leveraging stablecoins like USDC and high-performance blockchain networks such as Solana and Ethereum, the company aims to modernize cross-border settlement systems and offer clients faster, more efficient fund transfers from Visa’s treasury.
“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 Cuy Sheffield, Head of Crypto at Visa.
This strategic expansion highlights Visa’s commitment to building interoperable payment solutions that bridge traditional finance with emerging crypto economies.
Why Solana? Speed, Scalability, and Growing Adoption
Solana has emerged as one of the most performant blockchains, capable of processing thousands of transactions per second with low fees—making it ideal for real-time payment use cases. With this pilot, Visa is tapping into Solana’s robust infrastructure to support rapid merchant settlements in USDC, a regulated stablecoin pegged 1:1 to the U.S. dollar.
USDC, issued by Circle, holds a market capitalization of approximately $26 billion, making it the second-largest stablecoin in the cryptocurrency ecosystem. Its widespread adoption across exchanges, DeFi platforms, and fintech applications makes it a natural choice for institutional experimentation.
Solana’s native token, SOL, saw a nearly 5% price increase following the announcement—reflecting strong market sentiment around increased institutional validation.
Building on Past Crypto Initiatives
Visa is no newcomer to blockchain innovation. Over two years ago, it launched a pilot enabling Crypto.com to send USDC payments over the Ethereum network. That early effort demonstrated the viability of using public blockchains for B2B settlements.
Now, the $500 billion financial services giant is taking the next step by partnering with leading payment processors Worldpay and Nuvei to facilitate USDC receipt and settlement for merchants. These firms serve a diverse range of businesses engaged in the blockchain economy—including crypto on-ramp providers, Web3 gaming platforms, and NFT marketplaces—many of which increasingly prefer stablecoins over traditional fiat for incoming payments.
“This shift reflects evolving merchant preferences,” Visa noted. “Businesses operating in digital asset ecosystems often seek faster liquidity, lower counterparty risk, and seamless integration with their existing crypto operations.”
A Strategic Endorsement for Solana
While Ethereum served as the foundation for Visa’s initial stablecoin experiments, the pivot toward Solana underscores changing priorities in scalability and transaction efficiency. Unlike earlier blockchain networks that struggled with congestion and high gas fees during peak usage, Solana offers consistent performance even under heavy load.
Moreover, late last year, Visa introduced a recurring payments feature powered by Starknet, an Ethereum layer-2 scaling solution—further emphasizing its focus on scalability across multiple chains.
The inclusion of Solana in this latest pilot represents a major endorsement of its technological capabilities and growing relevance in enterprise-grade financial infrastructure.
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The Role of Stablecoins in Modern Payments
Cuy Sheffield remains bullish on the transformative potential of stablecoins. Speaking at the recent Starknet Summit, he emphasized their significance:
“Being able to represent dollars over blockchains is a really big deal.”
He added:
“Two years ago, we had stablecoins, but most blockchains that existed two years ago didn’t really scale. We think that stablecoins, running through many different blockchains, are one of the most important and interesting innovations happening in payments today.”
This vision aligns with broader industry trends: real-time settlement, 24/7 payment rails, reduced intermediary dependency, and programmable money—all enabled by combining stablecoins with scalable networks.
Core Keywords:
- Visa crypto payments
- Solana USDC settlement
- Stablecoin merchant payments
- Blockchain payment infrastructure
- USDC on Solana
- Cross-border settlement innovation
- Worldpay Nuvei crypto integration
- Digital currency adoption
Frequently Asked Questions (FAQ)
Q: What is Visa’s new pilot program about?
A: Visa has launched a pilot allowing merchants to receive USDC (a U.S. dollar-backed stablecoin) settlements over the Solana blockchain. The program works through payment processors Worldpay and Nuvei to integrate crypto into mainstream commerce.
Q: Why is Visa using Solana instead of Ethereum this time?
A: While Visa previously used Ethereum for USDC settlements, Solana offers superior speed and lower transaction costs—key advantages for high-volume merchant payments. This reflects a strategic move toward scalable blockchains for real-world financial use cases.
Q: Are merchants actually preferring stablecoins over fiat?
A: Yes—especially those operating in crypto-native sectors like NFTs, gaming, and on-ramp services. These businesses often value instant settlement, global accessibility, and compatibility with their existing digital asset operations.
Q: Does this mean Visa is launching its own cryptocurrency?
A: No. Visa is not issuing a cryptocurrency. Instead, it's building infrastructure to move existing digital assets like USDC across blockchains, enhancing how businesses receive payments.
Q: How does this impact the average consumer?
A: While currently focused on merchants, this development paves the way for faster, cheaper cross-border transactions that could eventually benefit consumers through improved payment experiences and lower fees.
Q: Is USDC safe to use for business settlements?
A: USDC is a regulated stablecoin issued by Circle and backed 1:1 with U.S. dollar reserves. It undergoes regular audits and is widely considered one of the most transparent and secure digital dollars available.
Looking Ahead: The Future of Blockchain-Powered Payments
Visa’s latest initiative reinforces a clear trend: major financial institutions are actively integrating blockchain technology into core payment workflows. As scalability improves and regulatory clarity increases, stablecoins are poised to play a central role in modernizing global finance.
From enabling near-instant cross-border payouts to supporting automated smart contract-driven transactions, the combination of trusted stablecoins like USDC and high-performance chains like Solana offers a compelling alternative to legacy systems.
For merchants, fintechs, and financial institutions alike, the message is clear: digital currency infrastructure is no longer experimental—it's operational.
As adoption accelerates, expect more innovations that blend traditional finance with decentralized networks—ushering in a new era of faster, more inclusive, and programmable money.