Dubai – Sharikat Mubasher: Visa announced expanding its stablecoin settlement capabilities across Central and Eastern Europe, the Middle East, and Africa through a partnership with digital assets platform Aquanow.

As per a recent press release, the integration will allow banks and payment providers to settle transactions using approved stablecoins like USDC, cutting costs and reducing settlement times.

Visa said demand for faster, round-the-clock cross-border settlement is rising, as institutions look for alternatives to traditional payment rails. The company first piloted USDC settlement in 2023 and now processes more than $2.5 billion in annualized stablecoin volume.

Godfrey Sullivan, Visa’s Head of Product and Solutions for CEMEA, said the partnership will help modernize the back-end of payments, while Phil Sham, Aquanow CEO, noted that the collaboration enables institutions to participate more efficiently in the digital economy.