Visa Expands Stablecoin Reach in Europe, Middle East and Africa
Payment card giant Visa (V) has expanded its stablecoin capabilities across the Central and Eastern Europe, Middle East, and Africa (CEMEA) region, and has also formed a strategic partnership with African crypto exchange Yellow Card.
Visa appears to be doubling down on stablecoins, which are fast becoming the new payment rails of the Internet, having last month invested in stablecoin-based payments firm BVNK.
In 2023, Visa became one of the first major payment networks to settle transactions in Circle's USDC stablecoin. To date, over $225 million in stablecoin volume has been settled through Visa across participating clients, according to a press release.
'In 2025, we believe that every institution that moves money will need a stablecoin strategy,' said Godfrey Sullivan, Visa's Senior Vice President and Head of Product and Solution for CEMEA in a statement.
The Yellow Card partnership will explore cross-border payment options, streamlining treasury operations and enhancing liquidity management.
'Together with Visa, we're building a bridge between traditional finance and the future of money movement. We look forward to continuing to innovate new solutions that can transform how money moves for even more secure, efficient, and transparent payment solutions,' said Chris Maurice, Co-Founder and CEO of Yellow Card.
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