Visa has announced a major expansion of its digital currency capabilities across Central and Eastern Europe, the Middle East, and Africa (CEMEA), launching new stablecoin settlement services in partnership with digital assets infrastructure provider Aquanow.
The collaboration integrates Aquanow’s digital asset infrastructure with Visa’s global technology stack. This integration enables Visa’s network of issuers and acquirers in the region to settle transactions using approved stablecoins, such as USDC, thereby bypassing traditional banking hurdles to reduce costs, operational friction, and settlement times.
The move comes as financial institutions increasingly demand faster, more cost-effective cross-border transaction methods. By leveraging stablecoins to digitize the back-end of money movement, Visa is facilitating 365-day settlement capabilities, a significant upgrade from traditional banking systems that are often limited by banking hours and multiple intermediaries.
Godfrey Sullivan, Head of Product and Solutions for CEMEA at Visa, described the partnership as a crucial step in evolving the region’s financial infrastructure.
“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,” Sullivan said. “Our partnership with Aquanow is another key step in modernizing the back-end rails of payments, reducing reliance on traditional systems with multiple intermediaries, and preparing institutions for the future of money movement.”
Visa has been aggressively testing stablecoin utility in its treasury operations. In 2023, it became one of the first major payment networks to allow clients to fulfill settlement obligations in USDC. Since then, the adoption has surged, with the company reporting that its monthly stablecoin settlement volume has now surpassed an annualized run rate of $2.5 billion.
Phil Sham, CEO of Aquanow, noted that the partnership combines Visa’s reliability with the efficiency of blockchain technology.
“Visa’s reliable global network has long moved money securely and efficiently. Together, Visa and Aquanow are unlocking new ways for institutions to participate in the digital economy, leveraging stablecoin technology to settle with the speed and transparency of the internet,” Sham stated.
The CEMEA region, comprising high-growth markets in Africa and the Middle East, is poised to benefit significantly from this technology. Cross-border payments in these regions have historically been slower and more expensive due to fragmented banking networks and currency volatility, challenges that stablecoin settlements are uniquely positioned to address.
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