Visa and AquaNow Modernize Payment 'Rails' with Stablecoin Expansion

Visa Inc. (NYSE: V) has expanded its stablecoin settlement capabilities in the Central and Eastern Europe, Middle East, and Africa (CEMEA) region through a partnership with AquaNow, a digital asset platform specializing in liquidity and infrastructure solutions. The collaboration integrates AquaNow's technology with Visa's global payment network, enabling financial institutions to settle transactions using approved stablecoins such as USDC. This move aims to reduce costs, operational friction, and settlement times, offering a faster alternative to traditional systems that often require multiple intermediaries.

The partnership builds on Visa's 2023 pilot program, which allowed clients to settle obligations in USDC. Since then, the program has achieved a $2.5 billion annualized run rate in transaction volume. Godfrey Sullivan, Visa's Head of Product and Solutions for CEMEA, emphasized that the initiative represents a step toward modernizing the "back-end rails of payments," reducing reliance on conventional systems and preparing institutions for the future of money movement as research shows. Phil Sham, AquaNow's CEO, highlighted the potential to unlock new digital economy opportunities by leveraging stablecoin technology for "speed and transparency of the internet" according to the company.

Visa's broader strategy includes supporting multiple stablecoins and blockchains on its settlement platform. Rubail Birwadker, Visa's Global Head of Growth Products and Strategic Partnerships, noted the company's focus on creating a "multicoin and multichain foundation" to address global partner needs. The initiative aligns with Visa's third-quarter 2025 earnings call, where CEO Ryan McInerney underscored the growing demand for stablecoins in cross-border transactions and the role of Visa crypto cards in facilitating spending according to the call.

The partnership also reflects a wider industry trend as major players like Mastercard explore stablecoin integration. AquaNow's role in Canadian crypto infrastructure, particularly its experience connecting trading platforms to global markets, positions it as a key enabler of this shift. The Logic reported that the collaboration could allow banks and merchants to settle payments nearly instantly, bypassing the traditional 5–7-day wait.

Regulatory developments further underscore the sector's growth. For instance, Canada's QCAD Digital Trust recently received approval for a compliant Canadian dollar stablecoin, signaling a maturing framework for digital assets as per financial sources. However, risks remain, including price volatility and lack of financial protections for investors, as noted in AquaNow's UAE operations disclosure.

With stablecoins projected to reshape global payments, Visa's expansion into this space highlights its commitment to innovation. The company's infrastructure now supports over 25 fiat currencies globally, reinforcing its position as a leader in digitizing money movement. As Sullivan stated, the partnership with AquaNow is a "key step" in redefining how institutions interact with the evolving financial landscape according to industry analysis.