Monad Joins Visa's Push to Make Stablecoin Settlement Multi-Chain

Visa is expanding the blockchain infrastructure behind its stablecoin settlement operations, adding the Monad network as another option for financial institutions settling payment obligations through its global network.

The integration allows participating card issuers and acquirers to settle their obligations with Visa using stablecoins on Monad, extending the payment company's multi-chain infrastructure as its annualized stablecoin settlement run rate surpasses $25 billion.

Announced by the Monad Foundation on November 10, the development adds another blockchain to Visa's growing settlement ecosystem. It also highlights the increasing role of public blockchain networks in the back-end operations of traditional payment infrastructure.

Visa Extends Its Multi-Chain Settlement Infrastructure

Monad joins Visa's existing stablecoin settlement options, which include Avalanche, Ethereum, Solana, Stellar, Arc, Base, Canton, Polygon and Tempo.

The expansion follows Visa's earlier decision to integrate five additional blockchain networks into its settlement program in April, bringing its supported network options to nine at the time. The company explained that the expansion would allow participating institutions to select networks suited to their operational requirements while continuing to use Visa as a common settlement layer.

The move builds on Visa's previous expansion of its stablecoin settlement infrastructure across five additional blockchains, reflecting its approach to supporting payment activity across multiple blockchain ecosystems rather than relying on a single network.

"Adding support for Monad expands the options available to our partners and is another step toward building a multi-chain settlement infrastructure for stablecoin-enabled payments," said Dan Roesbery, Visa's vice president of global onchain partnerships and go-to-market.

Blockchain-based settlement also allows participating institutions to move funds during weekends and holidays, extending settlement availability beyond the traditional five-business-day banking schedule.

The integration concerns the settlement of obligations between financial institutions, rather than changing how consumers use Visa cards or requiring merchants to accept cryptocurrency.

Visa's Stablecoin Settlement Run Rate Surpasses $25 Billion

Monad's addition comes as Visa's stablecoin settlement activity continues to expand.

During its October 27 earnings call, Visa CEO Ryan McInerney reported that the company's annualized stablecoin settlement run rate had surpassed $25 billion, representing approximately tenfold growth year over year.

Visa also reported more than 225 stablecoin-linked card programs operating globally, illustrating the expansion of payment services connecting traditional card infrastructure with digital assets.

The settlement figure represents the annualized pace of activity across Visa's broader program. It does not indicate that Monad itself has processed $25 billion in transactions, nor does the announcement disclose settlement volumes specifically attributable to the network.

Visa has been expanding its stablecoin infrastructure through several initiatives designed to connect digital assets with existing financial services. In July, the company introduced the Visa Stablecoin Platform, providing banks, fintech companies and payment providers with infrastructure for stablecoin issuance, redemption, wallet management and treasury operations.

The company has also moved beyond settlement into financing services for stablecoin-linked card programs. Through its onchain credit initiative, Visa is connecting payment settlement data with blockchain-based lending infrastructure to help participating businesses access working capital.

The initiative, which includes a pilot with Credit Coop, builds on the expansion of stablecoin-linked card programs across Visa's network.

Monad Develops Privacy Infrastructure for Institutional Settlement

Alongside the integration, Monad is developing Private Settlement, a feature designed to address institutional requirements around transaction confidentiality.

The proposed system would allow businesses to keep sensitive transaction information, including balances and payment details, private while maintaining the ability to provide authorized access to auditors and regulators.

According to the Monad Foundation, the feature is being developed to allow private transactions to access the network's shared liquidity rather than operating in isolated environments.

However, Private Settlement is not yet live. Its development and planned rollout over the coming months represent a separate stage of Monad's institutional infrastructure roadmap.

Visa has also explored confidential blockchain-based settlement through its work with the Canton Network. In June, the company announced a proof of concept with stablecoin issuer Brale to examine privacy controls for institutional stablecoin transactions.

The developments highlight an emerging requirement for blockchain-based financial infrastructure: enabling institutions to benefit from onchain settlement while maintaining the confidentiality and oversight mechanisms required for regulated financial operations.

Payment Networks Expand Stablecoin Settlement Beyond Banking Hours

Visa's expansion comes as competing payment networks are also incorporating stablecoins into their settlement infrastructure.

Mastercard, for instance, has expanded its settlement services to support intraday, weekend and holiday processing through regulated stablecoins and multiple blockchain networks.

The company's initiative allows participating issuers and acquirers to settle card transactions outside traditional banking hours while maintaining existing payment infrastructure and operational controls.

As global payment networks expand their blockchain integrations, competition is increasingly extending beyond card issuance and merchant acceptance to the infrastructure used to move and settle funds between financial institutions.

Visa's addition of Monad reflects this shift, with multi-chain connectivity, settlement availability and institutional privacy becoming increasingly important considerations in the development of blockchain-based payment systems.