UAE-based NymCard has announced the go-live of stablecoin settlement in the Gulf Cooperation Council (GCC) region with Visa, aiming to advance digitisation in the region.
The move comes as a key step in optimising settlement infrastructure, as well as digitising the backend of money movement. With this newly added capability, NymCard can settle card transactions with Visa, leveraging USDC, which in turn will facilitate more efficient, 24/7 settlement. At the same time, this will bring a more simplified and augmented approach to the settlement process.
Making stablecoin settlement more efficient
Utilising this alternative model will enable issuers to decrease operational costs, minimise collateral and prefunding requirements, and develop a foundation for optimal multi-currency settlement in the future.
Currently, stablecoin settlement is evolving into an enabler of global money movement, offering more speed, transparency, and efficiency for transactions conducted across borders. By integrating USDC into settlement flows, NymCard and Visa plan to modernise the GCC’s payments infrastructure while also facilitating more ways for money to move securely across the latter’s global network.
Talking about the strategic move, Omar Onsi, Chief Executive Officer, NymCard, underlined that the company’s main focus is to build the payment infrastructure that meets the current and future needs of players in the market. Additionally, working with Visa on stablecoin settlement further solidifies its commitment to continuous advancement and providing optimal payment capabilities to the region.
Visa’s focus on stablecoins
In addition to working with NymCard in the GCC region, Visa recently teamed up with BVNK to enable stablecoin payments for Visa Direct. The agreement came as a step forward in the two companies’ relationship and sought to allow BVNK to support Visa Direct’s stablecoin services in select markets. As part of this, BVNK was set to facilitate stablecoin pre-funding, with select business customers being able to fund Visa Direct payouts using stablecoins instead of only fiat.
December 2025 also saw Visa rolling out its Stablecoins Advisory Practice offering by Visa Consulting & Analytics (VCA), delivering insights and recommendations for users. The data brought to banks, fintech companies, merchants, and businesses, regardless of their size, focused on market fit, strategy, and implementation during a time when the stablecoin market had significantly expanded.
