Visa adds Monad as stablecoin settlement tops $25 billion

Monad said in a Nov. 10 post that participating card issuers and merchant acquirers can now settle their Visa obligations in stablecoins on its network. The process moves funds between payment institutions after card transactions; issuers provide cards to customers, while acquirers handle merchants’ payments. Stablecoins can also allow firms to settle outside conventional banking hours.

Visa chief executive Ryan McInerney said on the company’s Oct. 27 earnings call that the annualized settlement run rate had exceeded $25 billion, ten times the level a year earlier. Visa had reported more than $20 billion in annualized volume in a Sept. 8 announcement. A run rate projects the current pace of activity over a year; it does not mean Visa processed $25 billion during fiscal 2026.

McInerney said Visa supported 10 blockchains and settlement services in all five of its geographic regions. He also cited more than 225 stablecoin-linked card programs, covering 5 million cards in more than 50 countries. Volume through those programs grew more than 150% year over year, he said. Participants included crypto exchanges, digital wallets, neobanks and remittance providers.

Visa’s work with Lloyds Banking Group has shown how settlement can operate across borders. In a seven-day pilot, Lloyds settled a combined $750,000 in live dollar payment obligations. It bought USDC through UK-regulated digital asset exchange Archax and booked the settlements through its Corporate Markets branch in Jersey. Visa said the funds reached the United States in under an hour, including over the weekend; conventional cross-border settlement can take a day or longer when initiated outside banking hours.

Monad’s Private Settlement design is separate from the live integration and is not yet available. Category Labs introduced the proposal on Oct. 6. It would let institutions set validators, permitted assets and access policies for their own execution domains, while encrypting transactions, contract code and state. Auditors and regulators could be granted limited access. Proposed uses include payroll, supplier payments, tokenized funds and private trading positions.