Visa has expanded its stablecoin settlement offering to Central and Eastern Europe, the Middle East, and Africa through a new partnership with Aquanow, a digital assets firm. This gives banks and payment partners across the region the option to settle transactions using USD Coin (USDC) instead of relying only on traditional banking networks. It also brings blockchain-based settlement to a much wider market and supports round-the-clock processing throughout the year.
Visa says the collaboration blends Aquanow’s digital asset infrastructure with its own settled payment technology, allowing issuers and acquirers to move funds faster and with fewer intermediaries. Although payments at a store counter feel instant, the money often takes days to travel between banks because of slow correspondent banking channels. With this integration, funds can move as stablecoins first and then convert back to fiat currency, cutting both friction and cost.
Godfrey Sullivan, Visa’s Head of Product and Solutions for the CEMEA region, said the company wants to help financial institutions settle more efficiently. He noted that stablecoin rails offer a simpler and quicker alternative to the systems many banks still use today. The initiative builds on Visa’s 2023 pilot for USDC settlements, which has now grown to more than $2.5 billion in annualised settlement volume. Visa says demand from banks looking for cheaper and faster cross-border processing continues to rise.
Aquanow’s CEO, Phil Sham, said the partnership opens new ways for institutions to join the digital economy. He added that combining a global payments network with blockchain technology creates a more flexible and modern settlement model.
