Visa announced an expansion of settlement with stablecoins in the CEMEA region (Central and Eastern Europe, the Middle East and Africa) through a partnership with digital-asset platform Aquanow. The initiative builds on 2023 pilots and aims to accelerate cross-border settlement using approved stablecoins, primarily USDC, as part of Visa’s strategy to modernize payment rails and scale new flows.
Visa–Aquanow integration focuses on stablecoin-based cross-border settlement
The partnership integrates Aquanow’s infrastructure with Visa’s global network to enable issuers and acquirers in CEMEA to settle obligations using stablecoins. The pilot, launched in 2023, reached an annualized run-rate above $2.5 billion according to company data.
A stablecoin in this context is defined as a digital token designed to maintain parity with a fiat currency or another asset. Visa frames this expansion within a broader target: achieving 50% of total revenue from new payment flows by 2026.
In parallel to the partnership, Visa is progressing with programs including Visa Direct — a pilot offering instant stablecoin payouts to creators and gig workers — as well as a tokenized-assets platform and equity positions in firms within the stablecoin ecosystem. USDC is prioritized as the primary means of settlement within the approved-currency framework.
Godfrey Sullivan, Head of Product and Solutions for CEMEA at Visa, stated that the collaboration represents “another key step to modernize settlement infrastructures, reducing reliance on traditional systems with multiple intermediaries.” Phil Sham, Aquanow’s CEO, said the alliance opens new institutional pathways with the speed and transparency of the internet.
Visa’s focus on CEMEA reflects regional gaps in traditional banking infrastructure and high remittance volumes. The model offers institutions continuous 24/7 settlement, enabling capital rotation and liquidity optimization without multi-day correspondent-banking delays.
Regulatory developments support the rollout: the EU implemented MiCA in December 2024, and the U.S. approved a stablecoin law in July 2025, based on information cited by the company. Entities adopting these rails must reinforce compliance, counterparty controls, and governance considerations.
Risks persist, including reputational and liquidity exposure to stablecoin issuers, smart-contract vulnerabilities, and complexity in network interoperability. Debate continues over systemic risk and reserve transparency, even as Visa positions its model as a compliant institutional pathway.
The partnership with Aquanow strengthens Visa’s role in the shift toward digital settlement infrastructure in CEMEA, supported by early traction and strategic milestones set for 2026. It places Visa as an active participant in the migration of cross-border payments to tokenized systems.