Visa Expands USDC Payments to Solana Network

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In a significant move signaling deeper integration between traditional finance and blockchain technology, Visa has announced expanded support for USDC stablecoin payments—this time leveraging the high-speed Solana network. The development, revealed on September 5, marks a pivotal moment in the evolution of digital settlements, offering faster, more efficient cross-border transactions for businesses and financial institutions.

This strategic expansion builds on Visa’s existing infrastructure using USDC on Ethereum and introduces Solana as a new settlement layer in a live pilot program with major merchant acquirers Worldpay and Nuvei. Let’s explore what this means for the future of payments, how it solves longstanding industry challenges, and why blockchain-based settlement is gaining momentum.

Addressing Legacy Payment Challenges

Traditional card-based payment systems may appear seamless to end users, but behind the scenes, they involve complex layers of intermediaries, time delays, and operational inefficiencies. When a customer makes a purchase, funds must move from the issuing bank (the customer’s bank) to the acquiring bank (the merchant’s bank). This process often takes days due to settlement cycles, banking hours, and currency conversion hurdles—especially in international transactions.

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For example, prior to its collaboration with Visa, Crypto.com relied on converting cryptocurrency holdings into fiat currency before settling transactions—a process that was not only slow but also costly due to exchange fees and regulatory overhead. By shifting to direct USDC transfers over Ethereum into a Circle-managed account (Circle being the issuer of USDC), both parties reduced friction, lowered costs, and accelerated settlement times.

As Cuy Sheffield, Visa’s Head of Cryptocurrency, noted in a September 5 tweet:

“It's still early days, but Visa has already settled millions of dollars of USDC over the Ethereum and Solana blockchains between our clients. We are committed to continuing to innovate around how we move money and providing our clients modern options for settlement.”

This foundation has now evolved—ushering in a new phase of blockchain-powered financial infrastructure.

Key Details of the Solana Integration

Visa’s latest initiative involves enabling real-time settlement via USDC on the Solana blockchain through partnerships with two leading global payment processors: Worldpay and Nuvei. These acquirers handle payment processing for thousands of merchants worldwide, and their participation signals growing institutional confidence in stablecoin settlements.

Under this pilot program, merchants working with Worldpay or Nuvei can now choose to receive settlements in USDC instead of traditional fiat currencies. Funds transferred via USDC on Solana benefit from near-instant finality—typically confirmed in under two seconds—with minimal transaction fees compared to legacy systems.

Notably, Visa emphasizes that this makes it one of the first large-scale payment networks to directly utilize Solana for live settlement operations between financial clients. While Ethereum remains part of Visa’s multi-chain strategy, Solana’s performance advantages make it particularly well-suited for high-volume, low-latency payment flows.

This isn’t just theoretical—real dollars are moving. Millions of dollars in USDC have already been settled across both Ethereum and Solana within Visa’s network, demonstrating tangible progress toward a hybrid financial ecosystem where digital assets complement traditional rails.

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Why Solana? Speed, Scalability, and Efficiency

Solana has emerged as a top-tier blockchain platform due to its unique combination of speed, scalability, and cost-efficiency. With the ability to process up to 65,000 transactions per second and average transaction fees below $0.001, Solana offers a compelling alternative to slower and more expensive networks like Ethereum—especially for use cases requiring rapid throughput.

For payment processors like Worldpay and Nuvei, these technical advantages translate into real business value:

Moreover, Solana’s growing ecosystem includes robust DeFi protocols, custodial solutions, and regulated financial services—all of which support enterprise-grade adoption.

Although Solana briefly saw a price bump following the Visa announcement—rising from $19.50 to $20.60—the market has since stabilized, with SOL trading around $19.37. Still, the long-term implications outweigh short-term volatility. As one of the top 10 blockchains by market capitalization (approximately $8 billion), Solana continues to gain traction among institutions exploring blockchain-based settlement.

Frequently Asked Questions (FAQ)

Q: What is USDC?
A: USDC (USD Coin) is a fully reserve-backed stablecoin pegged 1:1 to the U.S. dollar. Issued by Circle, it operates across multiple blockchains and is widely used for digital payments, trading, and cross-border transfers.

Q: How does Visa use USDC for settlements?
A: Visa enables financial institutions and acquirers to settle transactions using USDC transferred over public blockchains like Ethereum and Solana. Instead of relying solely on traditional banking networks, funds are sent digitally and settled nearly instantly.

Q: Is this available to all merchants?
A: Currently, this functionality is part of a pilot program with select partners like Worldpay and Nuvei. Wider availability will depend on regulatory clarity and infrastructure readiness.

Q: Does this mean Visa is replacing traditional payments with crypto?
A: No. Visa is not replacing fiat systems but enhancing them with optional digital asset rails. Clients can choose whether to settle in fiat or USDC based on their needs.

Q: Why add Solana alongside Ethereum?
A: While Ethereum offers strong security and decentralization, Solana provides faster transaction speeds and lower fees—ideal for high-frequency payment scenarios. A multi-chain approach allows flexibility and optimization.

Q: Could other stablecoins be added in the future?
A: While Visa currently focuses on USDC due to its compliance framework and transparency, future expansion to other regulated stablecoins is possible as standards evolve.

The Bigger Picture: Modernizing Global Payments

Visa’s move reflects a broader trend: the convergence of legacy finance and decentralized technologies. By integrating public blockchains into its settlement stack, Visa is future-proofing its network against inefficiencies while empowering partners with real-time liquidity tools.

This innovation also aligns with growing demand for programmable money—digital assets that can be automatically routed, split, or verified without manual intervention. For businesses operating globally, such capabilities reduce dependency on correspondent banks and unlock new levels of automation.

As adoption grows, expect more financial institutions to follow suit—leveraging stablecoins not as speculative instruments but as functional tools for everyday commerce.

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Core Keywords

The integration of USDC on Solana by Visa represents more than a technical upgrade—it's a foundational shift toward an open, interoperable financial system where speed, transparency, and efficiency are no longer compromises but standards.