Visa, a global leader in digital payments, has announced the expansion of its stablecoin settlement capabilities across the Central and Eastern Europe, Middle East, and Africa (CEMEA) region.
The expansion will be enabled through a partnership with Aquanow, a global digital assets platform specializing in liquidity and infrastructure solutions.
By integrating Aquanow’s digital asset infrastructure with Visa’s advanced technology stack, Visa will enable its network of issuers and acquirers to settle transactions using approved stablecoins like USDC.
This integration is expected to lower costs, reduce operational friction, and shorten settlement times for transactions across the network.
With growing demand from financial institutions for faster and cheaper cross-border transactions, Visa is using stablecoins to digitize the backend of money movement, enabling 365-day settlement.
In 2023, Visa became one of the first major payment networks to settle transactions in stablecoins by piloting USDC for client settlements. The initiative has already reached a monthly volume that annualizes to over $2.5 billion.
“By harnessing the power of stablecoins and pairing them with our trusted global technology, we are enabling financial institutions in CEMEA to experience faster and simpler settlements,” said Godfrey Sullivan, Head of Product and Solutions for CEMEA at Visa. “Our partnership with Aquanow is another key step in modernizing the back-end rails of payments, reducing reliance on traditional systems with multiple intermediaries, and preparing institutions for the future of money movement.”
Phil Sham, CEO of Aquanow, said “Visa’s reliable global network has long moved money securely and efficiently. Together, Visa and Aquanow are unlocking new ways for institutions to participate in the digital economy, leveraging stablecoin technology to settle with the speed and transparency of the internet”.
Visa (NYSE: V) is a global leader in digital payments, helping people, businesses, banks, and governments make transactions in over 200 countries and territories.
Its mission is to connect the world through a secure, reliable, and easy-to-use payments network, helping individuals, businesses, and economies grow. Visa believes that when everyone has access to financial services, it benefits everyone and builds the future of money movement.
Aquanow is a global digital asset platform for institutions, specializing in liquidity and infrastructure. It supports fast-growing banks, neobanks, brokerages, and payment companies. The platform handles billions of dollars in crypto brokerage and payment transactions every month.
Founded in 2018, Aquanow has over 170 employees across offices worldwide. In 2024, for the second year in a row, it was recognized on the Deloitte Technology Fast 500 list, achieving a four-year revenue growth of 3,022%.
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