Visa has collaborated with Aquanow, a global digital asset company, to extend stablecoin settlements across the Central and Eastern Europe, Middle East, and Africa (CEMEA) regions. The partnership will enable Visa’s network of issuers and acquirers to settle transactions with USDC.
Visa was one of the first major payment networks to adopt stablecoin settlements. Since its initial adoption in 2023, the global payment giant has continued to explore similar initiatives, including the recently launched pilot programs that allow the use of stablecoin as a fiat alternative for instant transfers and payouts for freelancers and creators via Visa Direct.
This new collaboration represents another milestone in Visa’s ongoing efforts to modernize financial infrastructure through stablecoin settlements.
Visa X Aquanow
Aquanow is a digital assets company offering robust technical, compliance, and liquidity infrastructure to facilitate financial transactions for institutional clients.
The partnership will enable the integration of Aquanow’s digital asset infrastructure with Visa’s financial technology stack, allowing Visa users to settle transactions using stablecoins, specifically in $USDC.
The collaboration marks an extension beyond complete reliance on the traditional banking structure and is expected to reduce transaction costs and operational friction and improve settlement times.
“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, Visa’s head of product and solutions for CEMEA.
According to Visa, its stablecoin rails have already processed over $2.5 billion in annualized settlement volume, solidifying the role of stablecoins as an essential component in modern financial infrastructure.
The CEO of Aquanow, Phil Sham stated,
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.
Implications for the Global Financial Economy
Visa’s move into stablecoin payments demonstrates increasing acceptance of digital currencies by traditional finance institutions.
The global payment giant has continued to serve as a model for other traditional payment service providers, demonstrating the possibility and benefits of a hybrid financial system that combines digital and traditional approaches.
For Africa and other selected regions, this partnership ushers in a new era of financial efficiency for financial institutions and payment processors. The integration of stablecoin infrastructure would eliminate unnecessary intermediaries, reduce administrative costs, and shorten settlement times within these regions.
