Visa taps Aquanow to expand stablecoin settlement across Europe, Middle East, and Africa
Visa partnered with Aquanow to extend stablecoin settlement, using USDC, across the CEMEA region, enabling 365-day settlement.Summary
Payments giant Visa has announced a new partnership with cryptocurrency infrastructure provider Aquanow to broaden its stablecoin settlement services across Central and Eastern Europe, the Middle East, and Africa (CEMEA). This integration allows Visa's network of issuers and acquirers in the region to settle transactions using approved stablecoins like USDC, notably supporting 365-day settlement which bypasses traditional banking delays on weekends and holidays. Visa views this as a key step in modernizing payment back-end rails. Visa initially piloted USDC settlements in 2023 and has since scaled its stablecoin settlement volume to an annualized run rate of $2.5 billion, with plans to add more stablecoins and blockchains soon. The partnership leverages Aquanow's existing regional presence, including its VASP license from Dubai's VARA and previous collaborations.
(Source：The Block)