Global card network Visa has added Monad to its roster of blockchains supporting stablecoin payments and settlement. Visa said it has begun enabling card issuers and acquirers to settle stablecoin payment funds through the Monad network. However, the timing of an actual service launch via Monad and expected transaction volumes have not yet been disclosed.
With the move, Monad becomes roughly the tenth chain to join Visa's stablecoin settlement infrastructure. Avalanche, Ethereum, Solana, Stellar, Arc, Base, Canton, Polygon and Tempo had previously made the same list. Blockchain-based settlement differs from conventional card payments in that it can process funds on weekends and holidays, free from the constraints of bank business days.
Dan Roesbery, Visa's vice president of global onchain partnerships and go-to-market (GTM), said, "The goal is to let partners choose the blockchain that best fits their needs," adding, "Supporting Monad is another step toward building a multi-chain stablecoin payment infrastructure."
As of September, Visa's stablecoin settlement volume stood at an annualized $20 billion, more than 15 times the level a year earlier. The number of stablecoin-linked card programs operating worldwide has also surpassed 225.
Note: Settlement volume is on an annualized basis.
Monad also plans to introduce an institutional privacy feature called "Private Settlement" within the next few months. With the feature, institutions can avoid exposing transaction details publicly while still providing the relevant information when requested by auditors or regulators.
The addition illustrates a shift in payment infrastructure from single-chain to multi-chain structures. For card companies and acquirers, a wider choice of settlement chains gives them more room to weigh fees and processing speeds in their operations. Once the institutional privacy feature is actually launched, the disclosure issue that has served as an obstacle for regulated financial firms adopting blockchain settlement is expected to be substantially eased.
