Visa says it will allow the use of cryptocurrency USD Coin to settle transactions on its payment network and has launched a pilot program with Crypto.com
(Reuters) - Visa Inc said on Monday it will allow the use of the cryptocurrency USD Coin to settle transactions on its payment network …
Context & Ripple Effects
Visa had already begun connecting its merchant network to USDC; the Crypto.com pilot moves that relationship from network access toward using the stablecoin in settlement. Later coverage traces the same path through USDC settlement pilots with Worldpay and Nuvei on Solana and, ultimately, Visa's internal Stablecoin Platform.
First-order effects
- Crypto.com gains a pilot route to settle transactions with USD Coin through Visa's payment network, while Visa begins testing stablecoin settlement in an operating payment flow.
- USD Coin becomes a settlement option within Visa's pilot, extending its role beyond a cryptocurrency traded outside the card network.
Second-order effects
- Visa's financial-institution and payment-processing partners gain a precedent for incorporating USDC settlement, a path later reflected in pilots involving Worldpay and Nuvei.
- Payment networks and stablecoin providers face pressure to make settlement integration usable across existing merchant and institutional relationships rather than limiting it to crypto-native venues.
Third-order effects
- The sequence points to stablecoins becoming payment-network settlement infrastructure, with Visa evolving from a network connected to USDC into an operator of dedicated stablecoin tooling.
- As settlement becomes programmable, control over the network rules and institutional access remains central even when the settlement asset runs on blockchain rails.
The trend: Card networks are progressively embedding stablecoins into institutional settlement workflows while retaining control of network access and payment rules.