Visa Adds Monad to Stablecoin Settlement Network

Visa has added the Monad blockchain to its stablecoin settlement network, allowing participating card issuers and acquirers to settle obligations to Visa in stablecoins after card transactions. The integration applies to the movement of funds between payment institutions, not to consumer checkout, according to the announcement made November 10.

The arrangement gives participating institutions another way to transfer funds owed through Visa, including outside conventional banking hours. Issuers provide cards to customers, while acquirers process payments for merchants. Once card transactions are cleared, the institutions can use stablecoins on Monad to settle the resulting obligations.

Visa has not named which issuers or acquirers will use Monad first, or which stablecoins will be supported. The announcement establishes that settlement is available to participating institutions, but does not identify actual users or report transaction volume on Monad.

Visa Chief Executive Ryan McInerney said during an October earnings call that the company’s stablecoin settlement activity had reached an annualized run rate above $25 billion by late October. That figure covers Visa’s settlement...