Recently, global payments giant Visa announced the launch of its stablecoin settlement service in the United States, allowing financial institutions to settle transactions using USDC issued by Circle. The first batch of transactions will be processed on the Solana blockchain.
This move goes far beyond a simple technical trial. As of November 30, 2025, Visa’s monthly stablecoin settlement volume has reached an annualized run rate of over $3.5 billion, signaling that stablecoins are evolving from fringe experiments to core financial infrastructure.
01 Key Event: Visa’s Blockchain Strategy Upgrade
Visa’s new stablecoin settlement service marks a significant expansion of its global pilot program. Banks and fintech companies in the US can now use USDC to settle their VisaNet obligations, moving beyond reliance on traditional fiat currencies.
The service has already attracted initial participants, including Cross River Bank and Lead Bank (backed by a16z), both of which have begun settling with Visa in USDC over the Solana blockchain.
Visa’s technical approach is particularly noteworthy. Not only has it adopted Solana—a public blockchain renowned for high performance—but it is also a design partner for Arc, Circle’s new Layer 1 blockchain currently under development.
Arc is now in public testnet, designed specifically to deliver the performance and scalability needed for Visa’s global commercial operations.
02 Real-World Demand: Why Are Banks Embracing Stablecoin Settlement?
Rubail Birwadker, Visa’s Global Head of Growth Products and Strategic Partnerships, gets straight to the point: "Visa is expanding stablecoin settlement because our banking partners aren’t just asking about it—they’re actively preparing to use it."
Financial institutions have clear and specific needs: faster, programmable settlement solutions that can seamlessly integrate with their existing cash management operations.
To meet these needs, Visa’s stablecoin settlement framework offers three core advantages:
- A seven-day settlement window, eliminating the limitations of traditional banking business days and enabling round-the-clock fund flows.
- Modernized liquidity and cash management, allowing participating banks to automate next-generation treasury operations.
- Interoperability, building a bridge between traditional payment networks and blockchain infrastructure.
Gilles Gade, founder of Cross River Bank, noted, "Fintech and crypto innovators are increasingly asking us to incorporate stablecoins into our existing product suite."
03 Market Impact: Dual Opportunities for SOL and USDC
Visa’s decision provides a significant endorsement for related crypto assets. Both Solana (SOL), as the settlement channel, and USDC, as the settlement medium, have seen their use cases and fundamentals substantially strengthened.
Note: The following are key asset price data as of December 17 for your reference. Please check Gate’s real-time prices on December 18 for the latest updates.
| Asset Name | Price (USD) | 24h Change | Key Relevance & Highlights |
|---|---|---|---|
| SOL (Solana) | 123.17 | -4.16% | Chosen by Visa as one of the first settlement blockchains—an important signal for institutional adoption. |
| USDC | 0.999995 | -0.07% | The designated stablecoin for Visa’s US settlement service, directly benefiting from increased settlement demand. |
| GT (GateToken) | 10.16 | -2.06% | The platform’s ecosystem token—watch its correlation with overall market sentiment and new user growth. |
The market’s preference for Solana is no coincidence. Just last month, JPMorgan and Galaxy collaborated to launch a USCP token for debt issuance on Solana.
Additionally, Jump Crypto’s independent Solana validator client, Firedancer, went live on mainnet last week, aiming to boost network throughput to millions of transactions per second. These developments collectively chart a clear path for a public blockchain to gain mainstream financial institution recognition.
04 Industry Signals: A New Balance Between Regulation and Innovation
Visa’s initiative comes amid a stable regulatory environment for cryptocurrencies in the US. In July, former President Trump signed the country’s first federal stablecoin framework, the "GENIUS Act."
This legislation provides regulatory clarity for traditional institutions like Visa to deepen their involvement in crypto. With the stablecoin market expected to grow from its current $300 billion size to $2 trillion by 2028, all incumbents are taking notice.
Visa is not alone in this exploration. Its competitor Mastercard is also moving aggressively, reportedly in advanced talks to acquire crypto and stablecoin infrastructure provider Zero Hash.
Last month, cross-border payments technology company Ripple partnered with Mastercard and Gemini Space Station to pilot stablecoin settlement on XRPL. This demonstrates that integrating blockchain technology has become a collective strategy for payments industry giants.
05 How to Capture New Trends on Gate
For traders watching this trend, platforms like Gate—which offer a wide range of trading pairs and deep liquidity—are key gateways to market participation. You can easily find relevant pairs such as SOL/USDT and USDC/USDT on the platform.
Gate’s charting tools allow you to analyze the short-term price swings and long-term trends of assets like SOL in response to Visa-related news. At the same time, Gate’s spot and derivatives products cater to investors with varying risk appetites.
A word of caution: Cryptocurrency markets are highly volatile, especially when driven by news events. Before making any trading decisions, be sure to check Gate’s latest real-time prices and data as of December 18, and always prioritize risk management.
Looking Ahead
When Cross River Bank and Lead Bank sent the first USDC settlement transaction to Visa over the Solana network, that information was recorded transparently and immutably on the blockchain.
This transaction did more than transfer value—it validated a vision for the future: global financial infrastructure is quietly evolving, with settlement cycles shrinking from five days to near-instant, and trust shifting from complex protocols to lines of code.
Visa’s stablecoin settlement volume surpassing a $3.5 billion annualized run rate is just the beginning. Much like how early email replaced the fax—initially as a substitute, but ultimately transforming the way everyone collaborates—this is only the start of a broader financial revolution.
