Visa's Stablecoin Pilot Hits ₱430.05 billion ($7 billion) Settlement Run Rate
Visa expanded its stablecoin settlement network to nine blockchains in April, adding Arc, Base, Canton, Polygon, and Tempo to its original four-chain foundation. The pilot now processes USDC across multiple networks with participation from Cross River Bank, Lead Bank, Worldpay, Nuvei, and Crypto.com.
Key Takeaway
Visa's embedding stablecoins into payment infrastructure without fanfare — $7 billion run rate proves institutional adoption is already here.
Visa's stablecoin settlement pilot hit a ₱430.05 billion ($7 billion) annualized run rate as of April 29, marking a 50% quarter-over-quarter increase from its ₱215.02 billion ($3.5 billion) baseline established in December 2025.
The payments giant added five blockchains to its pilot in April — Arc, Base, Canton, Polygon, and Tempo — bringing the total network to nine chains. Avalanche, Ethereum, Solana, and Stellar formed the original four-chain foundation.
Visa now operates more than 130 stablecoin-linked card programs spanning 50 countries. The company emphasized speed and availability as core benefits. USDC settlement over Solana delivers seven-day funds availability with resilience across weekends and holidays. Base, powered by Coinbase, settles USDC payments in seconds at low gas costs. Canton offers need-to-know privacy for counterparties, amounts, and transaction strategies.
Two U.S. banks — Cross River and Lead Bank — gained the ability to settle with Visa in USDC over Solana starting in December 2025. Merchant acquirers Worldpay and Nuvei joined the pilot alongside issuer partner Crypto.com. Visa became a Canton Super Validator in March 2025, months before adding the chain to its settlement network.
Visa's pilot runs parallel to its traditional card rails, not replacing them. The company announced moving millions of USDC between partners over Solana and Ethereum back in 2023, years before formalizing the multi-chain pilot that now processes across five merchant acquirers and issuer partners.
This article was written based on reporting from CryptoSlate.
