Key Takeaways:
Visa is officially rolling out a stablecoin settlement service for U.S. financial institutions, utilizing Circle’s USDC on the Solana blockchain as a core payment rail.
Cross River Bank and Lead Bank are the first institutions to settle directly with Visa using this method, which already processes over $3.5 billion in annualized volume.
The move allows banks to bypass slow, legacy wire transfers in favor of instant, 24/7 settlement windows that operate on weekends and holidays.
Visa has taken a decisive step to cement the role of public blockchains in the global financial system. The payments giant has begun allowing U.S. banks to settle payment obligations using the stablecoin USDC over the Solana blockchain, effectively upgrading its backend infrastructure with crypto-native rails.
Transforming Settlement with High Speed Rails
Visa’s new service fundamentally changes how money moves between banks and the card network. Traditionally, settlement relies on wire transfers and batch processing through correspondent banks – a system often plagued by multi-day delays, cut-off times, and weekend closures.
Under this new model, participating banks can push funds in USDC directly to Visa-controlled wallets over Solana. Because the blockchain operates continuously, these transfers are confirmed in seconds, available 24/7, and settled instantly. This capability allows for programmable settlement windows, enabling banks and fintechs to manage liquidity in real-time rather than waiting for Monday morning wire clearances.
Visa let U.S. banks settle payments in USDC over the Solana blockchain
Cross River and Lead Bank Drive Billions in Volume
The program is already operating at a significant scale. Visa revealed that the system is processing more than $3.5 billion in annualized settlement volume, a figure that signals strong institutional demand.
Cross River Bank and Lead Bank, two institutions known for powering the fintech economy, are the first to go live with the service. Their participation underscores the shift among forward-thinking banks toward “always-on” infrastructure. Visa has indicated plans to onboard additional financial institutions throughout 2026 as the demand for programmable money grows.
Choosing Efficiency Over Legacy Infrastructure
Visa’s selection of Solana follows extensive pilots with merchant acquirers like Worldpay and Nuvei. The network was chosen specifically for its ability to handle high transaction throughput at negligible costs, a necessity for institutional-grade settlement.
Analysts note that the regulatory environment has also played a key role. With clarity improving under the 2025 GENIUS Act framework, institutions are more comfortable transacting in regulated, dollar-backed stablecoins like USDC. This approach minimizes the foreign exchange and volatility risks typically associated with unpegged cryptocurrencies while retaining the speed benefits of blockchain.
A Hybrid Future for Global Payments
For Solana, this is a massive validation. Having a global payments leader actively route billions of dollars through the network places significant pressure on rival chains and traditional interbank messaging systems.
The move points toward a hybrid future for finance: users will continue to swipe cards and tap phones as usual, but the plumbing behind the scenes will increasingly run on public blockchains. By blending the reliability of the Visa brand with the efficiency of Solana, the company is proving that the future of settlement is not just digital, but on-chain.
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