Visa Introduces USDC Settlements in U.S. Banks Using Solana
USDC Settlement Launch: Visa has enabled U.S. banks to settle payments using Circle’s USDC stablecoin on the Solana blockchain, allowing for faster fund transfers and seven-day settlement windows, enhancing operational resilience.
Early Adoption and Benefits: Cross River Bank and Lead Bank are the first to adopt this system, reporting improved treasury operations and real-time liquidity management, while consumers will see no changes in their card usage.
Partnership with Circle: Visa is collaborating with Circle’s Arc blockchain to enhance global transaction scalability and support on-chain commercial activities, with plans to operate a validator node once Arc goes live.
Significant Adoption: Visa's stablecoin settlement framework has seen substantial adoption, with an annualized $3.5 billion monthly settlement volume reported, reflecting the growing integration of stablecoins in traditional banking operations.
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