Visa to Allow US Banks to Use Circle's USDC Token for Stablecoin Settlements

Visa is expanding its US network to allow stablecoin settlement using Circle's USDC token on the Solana blockchain. The move follows the Trump administration's relaxed regulatory environment and aims to offer faster and cheaper cross-border payments. Cross River Bank and Lead Bank are among the first to use the service. Visa is in a race with competitors like Mastercard to support stablecoin technology, which could disrupt its role as a payments intermediary and handle over $50 trillion in annual payment flows by 2030.