SAN FRANCISCO (dpa-AFX) - Visa Inc. (V), a major digital payments company, said on Thursday it has expanded its stablecoin settlement capabilities across the Central and Eastern Europe, Middle East, and Africa region, or CEMEA, through a partnership with Aquanow, a digital assets platform.
Godfrey Sullivan, Head of Product and Solutions for CEMEA at Visa, said: 'Our partnership with Aquanow is another key step in modernizing the back-end rails of payments, reducing reliance on traditional systems with multiple intermediaries, and preparing institutions for the future of money movement.'
The integration of Aquanow's digital asset infrastructure with Visa's technology stack will enable Visa's network of issuers and acquirers to settle transactions using approved stablecoins such as USDC.
Due to a strong demand, Visa is leveraging stablecoins to digitize the backend of money movement, supporting 365-day settlement.
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