Visa Accelerates Stablecoin Expansion in CEMEA through Yellow Card Partnership

Main Points:

• Visa’s strategic push to embed stablecoins into its CEMEA payment infrastructure
• Over $225 million in USDC settled via Visa since 2023 pilot programs
• Partnership with Yellow Card to streamline cross-border payments, enhance liquidity management, and support 24/7 settlements
• Broader regulatory shifts in the U.S. Senate signal mainstream adoption of stablecoins
• Stablecoins evolving from niche crypto assets to foundational global money rails
• Implications for treasury operations, corporate finance, and emerging markets

1. Introduction: The Stablecoin Imperative in 2025

As global payment systems evolve, stablecoins have emerged as a critical bridge between traditional finance and blockchain-enabled rails. Visa, a leader in digital payments, has underscored that “every institution that moves money will need a stablecoin strategy” by 2025, signaling a paradigm shift for corporates, banks, and fintechs in regions spanning Central and Eastern Europe, the Middle East, and Africa (CEMEA). This strategic pivot comes as the adoption of USD Coin (USDC) and other fiat-pegged tokens has demonstrated the capability to reduce volatility while offering near-instant settlement.

In 2023, Visa pioneered stablecoin settlement corridors, becoming one of the first major networks to allow clients to fulfill settlement obligations in USDC. To date, the network has processed over $225 million in stablecoin volume, validating the operational resilience and cost efficiencies of blockchain-based settlements. Such milestones have laid the groundwork for a wider expansion across emerging markets, where payment frictions and FX volatility have historically hampered seamless commerce.

2. Visa’s CEMEA Expansion: Technical and Commercial Drivers

Visa’s expansion in the CEMEA region focuses on two pillars: technical infrastructure and commercial integration. On the technical front, Visa is opening its stablecoin settlement platform to select issuers and acquirers, enabling USD cross-border transactions over blockchain rails that operate 365 days a year, including weekends and holidays. By leveraging multiple blockchains—Ethereum, Solana, and others—Visa ensures high throughput, reduced gas fees, and interoperability with local payment ecosystems.

Commercially, extending stablecoin capabilities to partner firms like Yellow Card offers immediate benefits in treasury operations and liquidity management. Stablecoins can be moved instantly across borders without the delays of correspondent banking, freeing up working capital and reducing counterparty risk. For corporates operating in CEMEA markets—where banking infrastructure can be fragmented—this presents a compelling value proposition to optimize cash flow and FX hedging strategies.

3. Yellow Card Partnership: Unlocking Pan-African Potential

Yellow Card, a leading African crypto exchange licensed in over a dozen countries, serves as Visa’s strategic gateway into sub-Saharan markets. Through this partnership, both firms will co-develop use cases to:

• Explore cross-border payment options, leveraging USDC and other stablecoins to bypass traditional correspondent banking rails.
• Streamline treasury operations, enabling corporates to consolidate multi-currency holdings into USD-pegged tokens for on-chain settlement.
• Enhance liquidity management, using real-time blockchain tracking to optimize fund deployment and collateralization.
• Assess integration with Visa Direct, expanding instant payment services to fiat and crypto endpoints across 190+ countries.

Chris Maurice, Co-Founder and CEO of Yellow Card, emphasized that “together with Visa, we’re building a bridge between traditional finance and the future of money movement,” underlining the shared vision for secure, efficient, and transparent payment solutions.

4. Regulatory Winds: U.S. Senate Poised to Clear the Path

While Visa and Yellow Card drive commercial innovation, regulatory clarity is rising elsewhere. On June 18, the U.S. Senate passed the bipartisan GENIUS Act, a landmark bill requiring stablecoin issuers to maintain 100% liquid reserves in USD or short-term Treasuries and to disclose reserve compositions monthly. Wall Street analysts forecast that, if enacted by late summer, this framework will transform stablecoins into “the money rail of the internet,” propelling them from niche instruments to core financial infrastructure.

Such developments provide confidence to global payment networks and corporate treasuries considering token-based settlements. Companies like Circle (issuer of USDC) have already seen their market capitalization and stock performance surge—Circle shares jumped 16% post-Senate vote—highlighting investor optimism around regulated stablecoins. A robust regulatory foundation in the U.S. can serve as a blueprint for other jurisdictions, including CEMEA markets that seek to foster innovation while safeguarding financial stability.

5. Market Impact: From Volatility Mitigation to Financial Inclusion

The integration of stablecoins into Visa’s CEMEA settlement rails promises to reshape multiple facets of the financial ecosystem:

1. Volatility Mitigation: By tethering digital tokens to the U.S. dollar, businesses can avoid the wild price swings typical of crypto assets, making stablecoins viable for payroll, supplier payments, and intra-company transfers.
2. Cost Reduction: Blockchain-based settlements bypass multiple intermediaries, trimming fees associated with SWIFT, correspondent banking, and FX conversions.
3. 24/7 Settlement: Unlike traditional systems that pause on weekends and holidays, blockchain networks operate continuously, enabling real-time finality and better cash forecasting.
4. Financial Inclusion: In underbanked regions, stablecoins can extend digital payment services to SMEs and gig workers lacking formal bank accounts, boosting economic participation.
5. Programmable Money: Smart contracts enable conditional payments—such as escrowed trade finance or automated rebate programs—unlocking new classes of financial products.

These advantages align with CEMEA markets’ unique challenges, where regulatory fragmentation and infrastructure gaps can hinder cross-border trade and remittances. Visa’s and Yellow Card’s collaboration aims to close these gaps by marrying global payment expertise with local crypto-native networks.

6. Competitive Landscape: How Other Players Are Responding

Visa is not alone in this arena. Mastercard has announced experimental stablecoin pilots with central banks and private issuers, exploring CBDC interlinkages and tokenized fiatsupported rails. PayPal continues to expand crypto checkout functions, while fintech firms like Stripe are developing on-chain settlement rails for corporate payouts.

Institutional investors are also taking note. Grayscale and Fidelity have launched products providing regulated exposure to stablecoins, and banks such as Signature Bank now offer interest-bearing accounts for USDC deposits. Together, these movements indicate that stablecoins are migrating from experimental crypto projects to full-blown pillars of financial infrastructure.

7. Challenges and Considerations

Despite the momentum, several hurdles remain:

• Regulatory Harmonization: CEMEA countries vary widely in crypto regulation. Achieving consistent frameworks for stablecoin issuance and custody will be essential.
• Counterparty and Smart Contract Risk: Ensuring the solvency of issuers and the security of smart contracts requires rigorous audits and insurance mechanisms.
• On-Off Ramps: Seamless fiat-to-crypto and crypto-to-fiat conversions depend on deep liquidity in local markets, necessitating partnerships with exchanges and licensed payment processors.
• Technology Integration: Corporates must upgrade treasury systems and ERP platforms to interface with blockchain networks, demanding change management and technical training.

Visa and Yellow Card’s phased rollout—with selective issuers, pilot use cases, and iterative feedback loops—aims to mitigate these risks by building a scalable, compliant, and secure stablecoin ecosystem in CEMEA.

8. Looking Ahead: The Future of Cross-Border Payments

By 2026, we expect stablecoin settlement volumes to surpass $1 billion monthly within Visa’s network, driven by expanding partner participation and regulatory frameworks. As blockchain interoperability standards mature, liquidity pools will deepen, driving narrower bid-ask spreads for large corporate flows.

Simultaneously, tokenization of other assets—such as tokenized treasuries or corporate bonds—may piggyback on stablecoin rails, further revolutionizing capital markets and treasury functions. Visa’s strategy positions it at the heart of this shift, blending decades of settlement expertise with blockchain’s programmability and speed.

9. Conclusion

Visa’s expansion of stablecoin capabilities throughout the CEMEA region, in partnership with Yellow Card, marks a significant milestone in the integration of blockchain into mainstream finance. By processing over $225 million in USDC settlements since 2023 and advancing 24/7 cross-border payment rails, Visa is laying the foundation for a truly global, frictionless payment system. Regulatory progress in the U.S., underscored by the Senate’s GENIUS Act, complements this commercial momentum by offering a clear, sustainable framework for stablecoin issuance and governance. As corporates and financial institutions embrace stablecoin strategies, stablecoins are poised to evolve from crypto novelties into essential infrastructure—powering next-generation payment systems, optimizing treasury operations, and extending financial services to underserved markets. For readers seeking new crypto assets or practical blockchain applications, Visa’s CEMEA initiative offers a compelling case study in leveraging stablecoins for real-world impact.