Visa partners with Circle and Solana to provide USDC settlement services to US banks

Global payments giant Visa announced on Tuesday the official launch of stablecoin settlement services in the United States, symbolizing that traditional financial institutions’ interest in blockchain payment channels has shifted from “wait-and-see” to “practical application.”

According to Visa’s statement, this service allows U.S. financial institutions to use the USD stablecoin USDC issued by Circle for backend cash flow and clearing operations on the Solana blockchain. The initial participating banks include Cross River Bank, known for its fintech services, and Lead Bank, which has received investment from the well-known venture capital firm a16z.

Visa also announced that this service will continue to expand in scale through 2026. Rubail Birwadker, Head of Global Growth Products and Strategic Partnerships at Visa, stated:

The reason Visa is expanding its stablecoin settlement business is because our banking partners are not just “asking questions”; they are ready to use it in practice. Financial institutions are seeking faster, programmable, and seamlessly integrated clearing solutions with existing cash management and financial operations.

By introducing USDC settlement into the U.S. market, Visa will provide banking-grade, directly operational solutions for financial institutions, improving capital efficiency while meeting Visa’s consistent standards for security, compliance, and system resilience.

Recently, Visa has launched a series of precise layouts targeting stablecoin infrastructure, including the launch of a stablecoin consulting service on Monday, specifically guiding banks and enterprises on issuing, custody, and on-chain payments with stablecoins.

Last month, Visa introduced a USDC-based creator payment feature and expanded on-chain settlement pilot programs in multiple regions.

Visa is also a design partner of Circle’s Layer 1 blockchain “Arc,” which will not only facilitate USDC settlement on Arc but also run validation nodes, actively participating in blockchain operation and security maintenance.

As Visa actively embraces stablecoins, the U.S. regulatory environment is experiencing a substantial shift. Since U.S. President Donald Trump signed the nation’s first federal stablecoin framework, the “GENIUS Act,” in July this year, the path to compliance has become clearer.

Market estimates suggest that the stablecoin market, currently valued at approximately $300 billion, will surge to $2 trillion by 2028. In response to this trend, traditional financial institutions and payment giants are competing to offer “compliant, high-throughput” USD digital currency transaction channels.

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