Key Points
- •Visa partners with Aquanow for stablecoin settlements expansion.
- •The focus is on USDC for cross-border efficiency.
- •Potential increase in stablecoin adoption in CEMEA.
Partnership Overview
Visa Inc. and Aquanow have announced a partnership to expand stablecoin settlements using USDC across Europe, the Middle East, and Africa. The collaboration is set to modernize payment settlements, reduce costs, and enhance cross-border efficiency by leveraging stablecoin technology, driving institutional adoption in the region.
Visa partners with Aquanow to expand stablecoin settlement services in Europe, the Middle East, and Africa. This collaboration underscores the growing integration of cryptocurrency in traditional financial ecosystems.
Leveraging USDC for Efficiency
Visa, a global payments leader, and Aquanow, a digital assets platform, are central to modernizing payment systems. The initiative leverages USDC for more efficient cross-border settlements. "We are unlocking new ways for institutions to participate in the digital economy, leveraging stablecoin technology to settle with the speed and transparency of the internet," said Phil Sham, CEO, Aquanow.
Enhancing Financial Services in CEMEA
The partnership aims to improve operational efficiencies and reduce costs for cross-border payments using stablecoins. It is poised to enhance financial services in the CEMEA region significantly.
With no new funding disclosed, the collaboration highlights an ongoing commitment to stablecoin infrastructure. This initiative signals a potential shift in traditional payment processing methods.
Building on Past Successes
This partnership builds on Visa's previous 2023 stablecoin pilot. It demonstrated significant potential for scaling successfully with USDC.
By integrating stablecoins like USDC, the partnership aligns with historical trends of institutional crypto adoption. The collaboration is expected to boost regional financial systems.