Nium has announced its initiative to join Visa’s stablecoin settlement pilot in order to support its cross-border payments.
Following this announcement, Nium was selected to participate in Visa’s stablecoin settlement pilot, which was developed in order to enable partners to settle with Visa using stablecoins across supported blockchains.
In addition, the introduction of stablecoin settlement to Nium’s overall operations marks an important step forward in the process of modernising its cross-border money movement, as well as unlocking faster, more secure, and programmable settlement capabilities.
The results of Nium joining Visa’s stablecoin settlement pilot
According to the official press release, through the process of participating in Visa’s stablecoin settlement pilot, Nium is expected to leverage supported stablecoins, including Circle’s USDC, as a digital settlement rail with Visa. At the same time, by moving settlement from legacy batch-based systems into blockchain-based stablecoin flows, Nium is expected to focus on reducing friction, cost, and delays in cross-border settlement, including addressing pain points such as weekend cut-offs, time zone delays, or slow reconciliation windows.
Furthermore, Nium will participate in Visa’s stablecoin settlement pilot through the use of its existing real-time cross-border infrastructure footprint. This process aims to give customers and fintechs the possibility to connect to faster digital settlement rails without the need to build stablecoin infrastructure themselves. Moreover, this strategy builds on Visa and Nium’s multi-year collaboration, which was focused on the process of modernising global money movement for enterprises and platforms across the world. Businesses have long been constrained by several settlement cycles that move on the cadence of clearing schemes and banks, not on the cadence of global commerce, and through the process of settling with Visa via stablecoins, Nium aims to align payments to the speed of the internet in order to improve their experiences.
