Visa Expands USDC Stablecoin Settlement to Major U.S. Banks After Successful $3.5 Billion Pilot

Visa, the global payments giant, is rolling out its USDC settlement capability to U.S. banks, following a successful pilot program that processed over $3.5 billion in transactions. This initiative allows partner financial institutions to receive settlements from Visa in Circle's USDC stablecoin on the Solana blockchain, significantly speeding up cross-border transactions. The move marks a major step in integrating digital currency into traditional finance, offering banks a faster and more cost-effective alternative to conventional systems like SWIFT. Visa's head of crypto, Cuy Sheffield, highlighted the efficiency gains, noting the pilot's success in enabling near real-time settlement. This expansion strengthens the infrastructure for stablecoin adoption within the mainstream banking sector.