Visa has announced the expansion of its stablecoin settlement program in the Middle East, Africa, and Central and Eastern Europe (CEMEA).
Aquanow, a company engaged in the development of crypto infrastructure, was chosen as a new partner.
This collaboration will allow banks and payment organizations in the CEMEA regions to use stablecoins such as USDC for faster and more cost-effective financial transactions. Godfrey Sullivan, head of Products and solutions at Visa in the CEMEA region, said:
"Our partnership with Aquanow is another important step in modernizing internal payment processes, reducing reliance on traditional systems with multiple intermediaries, and preparing institutions for the future of money transfers."
Aquanow CEO Phil Sham emphasized that the Visa network has been providing secure money transfers for many years. Now, both companies are giving financial institutions new opportunities to participate in the digital economy and make payments in real time.
Aquanow's Role
Aquanow provides infrastructure and liquidity for digital assets. The company operates under regulation in Dubai and processes large monthly volumes of cryptocurrency transactions.
The expansion of cooperation demonstrates the growing interest of institutional players in blockchain calculations. At the same time, experts warn about the risks of stablecoins — volatility and limited investor protection.
Proponents of the technology believe that such settlement mechanisms reduce the number of intermediaries and increase transparency compared to traditional payment systems.