Visa pushes stablecoin settlements into the mainstream with Aquanow partnership

Digital currencies are moving closer to everyday financial systems as Visa expands its stablecoin settlement capabilities across Central and Eastern Europe, the Middle East, and Africa (CEMEA). The global payments giant announced a partnership with Aquanow, a leading digital asset infrastructure provider, to enable faster, cheaper, and more transparent transaction settlements using approved stablecoins such as USDC.

The move signals a major step toward mainstream adoption of blockchain-based payment rails. Traditionally, cross-border transactions have relied on multiple intermediaries, creating delays and added costs. By integrating Aquanow’s digital asset infrastructure with Visa’s global technology stack, financial institutions can now settle transactions 365 days a year, reducing operational friction and speeding up money movement.

Recommended For You

Abu Dhabi firm backs Paramount’s hostile Warner Bros bid; what is L’Imad Holding?

ILT20: UAE spinner Aayan dazzles as Giants beat Warriorz

Taliban kill six Pakistani soldiers in checkpoint attack

Zendaya, Robert Pattinson's 'The Drama' teases engagement twist

Beijing Court orders Malaysia Airlines to pay over $410,000 each to MH370 families

 

Visa first piloted stablecoin settlements in 2023, allowing clients to fulfill obligations in USDC. Since then, demand has surged, with monthly volumes reaching an annualized run rate of $2.5 billion. “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 the region. He emphasized that the initiative modernizes the “back-end rails of payments,” preparing institutions for the future of money movement.

Aquanow CEO Phil Sham echoed this sentiment, noting that the collaboration “unlocks new ways for institutions to participate in the digital economy, leveraging stablecoin technology to settle with the speed and transparency of the internet.”

The partnership comes as financial institutions increasingly explore blockchain solutions to meet customer expectations for instant, low-cost transactions. Stablecoins—digital tokens pegged to fiat currencies—offer a bridge between traditional finance and decentralized systems, mitigating volatility while delivering the efficiency of crypto networks.

In the UAE, where Aquanow operates under Dubai’s Virtual Assets Regulatory Authority, the initiative aligns with the country’s ambition to become a global hub for digital assets. However, regulators caution that virtual assets carry risks, including price fluctuations and lack of financial protection, underscoring the need for informed participation.

Visa’s expansion reflects a broader trend: digital currencies are no longer confined to niche crypto markets. As major payment networks integrate stablecoins into their infrastructure, the line between traditional and digital finance continues to blur—bringing the promise of faster, more inclusive global transactions closer to reality. 

Somshankar Bandyopadhyay

• 

somshankar@khaleejtimes.com

Somshankar Bandyopadhyay is a News Editor with close to three decades of experience. Currently, he manages the business section, ensuring that the top economic and business news of the day reaches its readers.