Tenth rail for Visa digital dollars. The card network opened its stablecoin settlement program to Monad, a blockchain that went into production at the end of 2025. Its issuing and acquiring partners can now unwind their positions without waiting for a bank transfer.
Monad joins Avalanche, Ethereum, Solana, Stellar, Arc, Base, Canton, Polygon and Tempo in a device whose volumes have increased tenfold in one year.
Key Points
Monad becomes the tenth network accepted by Visa to resolve stablecoin payments between banks and acquirers
Visa program exceeds $25 billion annualized and 225+ stablecoin-backed card programs
The Monad Foundation prepares a native privacy module, with selective disclosure to auditors and regulators
Visa is also testing confidential settlement in Canton with the issuer Brale and its dollar-backed SBC token
Visa, Monad and the end of the five-day banking calendar
However, this payment only occurs once the customer leaves the store. It designates the transfer of funds between the cardholder's bank and the acquirer (whom it will be recalled that he collects on behalf of the merchant). This outcome usually follows a schedule of five working days, weekends and public holidays excluded. On a blockchain, funds circulate on Sundays such as December 25.
“Our goal is to give our partners the flexibility to settle on the blockchain networks that best meet their needs. The addition of Monad support expands the options available to our partners and is another step towards building a multi-chain settlement infrastructure for stablecoin payments. »
Dan Roesbery, Vice President of Global Onchain Partnerships and GTM at Visa
The volumes follow. Visa has an annualized stablecoin settlement rate of more than $25 billion, ten times more than a year earlier, and boasts more than 225 active stablecoin-backed card programs around the world. The group began in 2021 with a pilot in USDC on Ethereum on behalf of Crypto.com, before opening the Solana faucet two years later.
Let's talk right away about the absentees: neither Tron nor BNB Chain appear on Visa's list, while the first concentrates the majority of USDT transfers on the planet. Launched in November 2025 after a $225 million round led by Paradigm, Monad executes transactions in parallel while remaining compatible with Ethereum tools. His team, from the Jump trading rooms, announces more than 10,000 transactions per second for residual fees.
Private Settlement, the confidentiality lock expected by institutions
But speed doesn't solve everything. A company treasurer has no desire to let his competitors sift through his payment flows on a block explorer open to all.
Monad is therefore preparing a brick called Private Settlement, expected in the coming months. It will allow institutions to hide sensitive details of a transaction while opening them up to an auditor or regulator when the request arises. The Monad Foundation says the functionality is built into the protocol itself, so confidential transactions tap into the same liquidity as others without slowing down settlement.
“The next phase will depend on the ability of institutions to keep their sensitive flows confidential without leaving open networks,” says Keone Hon, co-founder and CEO of the Monad Foundation.
Visa is following the same path elsewhere. In June, the group launched a proof of concept with the issuer Brale to test settlement in SBC, its dollar-backed stablecoin, on the Canton network. The issue here again relates to controlling the visibility of transaction data.
