Visa Adds Monad to Stablecoin Payments Network, Plans Institutional Privacy Feature
Summary
- Visa said it has added the Monad blockchain to its stablecoin payments network.
- Visa said its stablecoin settlement volume has reached an annualized $20 billion, up more than 15-fold from a year earlier.
- Monad said it plans to launch Private Settlement, a privacy feature for institutions.
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Visa has added the Monad blockchain to its stablecoin payments network.
The payments company has begun allowing participating card issuers and acquirers to settle stablecoin payments through Monad, The Block reported on November 10.
Monad joins Visa’s stablecoin settlement network alongside Avalanche, Ethereum, Solana, Stellar, Arx, Base, Canton, Polygon and Tempo.
Unlike traditional card payments, blockchain-based settlement is not limited by bank business days, allowing funds to be processed on weekends and holidays.
“Our goal is to let partners choose the blockchain that best fits their needs,” Dan Roesbery, Visa’s vice president of global on-chain partnerships and go-to-market, said. Support for Monad is another step toward building multichain stablecoin payment infrastructure, he added.
As of September, Visa’s stablecoin settlement volume had reached an annualized $20 billion, more than 15 times higher than a year earlier. The number of stablecoin-linked card programs operating worldwide has also surpassed 225.
Monad plans to launch an institutional privacy feature called Private Settlement in the coming months. It will allow institutions to keep transaction details private while still providing the information to auditors or regulators when needed.
