TLDR
Visa USDC settlements run on Solana today, with earlier pilots on Ethereum.
- U.S. rollout: banks are settling with Visa in USDC over the Solana blockchain per an investing report. settling with Visa in USDC over the Solana blockchain
- Earlier phase used Ethereum, and recent coverage describes this expansion as moving beyond Ethereum. expanding beyond Ethereum
Deep Dive
1. Solana Rails
Visas current USDC settlement in the U.S. runs on Solana (SOL), with initial participants including Cross River Bank and Lead Bank settling directly over that network. This brings seven day availability, faster funds movement, and preserves the familiar card experience for end users. investing report
Visa also disclosed a monthly stablecoin settlement pace translating to a $3.5 billion annualized run rate as of late November, indicating meaningful early adoption on these rails. investing report
Operationally, Solanas high throughput and low fees are aligned with institutional stablecoin settlement needs. For banks and fintechs, the key gain is faster treasury movement with seven day windows.
2. Ethereum And Arc
Visas stablecoin work started earlier with Ethereum (ETH) pilots, and the current rollout is described as expanding beyond Ethereum as Solana goes live for U.S. bank settlement. expanding beyond Ethereum
Visa also plans to use Circles new Arc Layer 1 for USDC settlement once it launches, and intends to operate a validator node, signaling a multi chain strategy that prioritizes throughput and programmability for institutional settlement. report on Arc plan
The network mix is likely to remain pragmatic. Ethereum underpinned early tests. Solana is powering live U.S. flows now. Arc may become a purpose built rail when production ready.
Conclusion
Answering directly, Visa USDC settlements are powered by Solana today, with earlier pilots on Ethereum. The roadmap points to a multi chain posture, with Arc positioned for future settlement once live.
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