Daily Crypto Briefs 
SAN FRANCISCO, December 17, 2025
Visa just took a stablecoin pilot that lived mostly outside the U.S. and pushed it into the core of its home market. Visa says some of its U.S. bank partners can now settle with Circle’s USDC on Solana.
If you expected a price pop, you probably felt disappointed. Bitcoin and Ether have been sliding, and a payments upgrade does not change that overnight. The part that matters is what this says about where regulated dollar tokens are headed.
What Visa launched in the U.S.
Visa says it has started USDC settlement in the United States, so select U.S. issuers and acquirers can settle certain VisaNet obligations in USDC rather than only bank money. The details are in Visa’s announcement.
Visa names two early bank participants, Cross River Bank and Lead Bank. Visa says those banks are settling with USDC over Solana, with broader access planned through 2026.
Visa also points to scale. As of Nov. 30, it reports stablecoin settlement volume at a $3.5 billion annualized run rate. That is still small next to Visa’s total payment volume, but it is real production flow, not a lab demo.
Visa has also been widening what it supports. In July, it said its settlement platform would add more stablecoins and more chains, including PayPal USD (PYUSD) and Paxos’s Global Dollar (USDG), plus Stellar and Avalanche alongside Ethereum and Solana. That release is (here).
How USDC settlement changes the money flow
When you tap a card, money does not move from your bank to the store in that moment. The card network routes an authorization, then the banks net out what they owe each other later. That later step is settlement.
Two roles matter here. The issuer is the bank behind the card. The acquirer is the bank or processor that handles card payments for the merchant. Visa sits between them and runs the network that keeps the messages and the net obligations straight.
USDC settlement changes what asset can be used to close that net obligation. USDC is a dollar-backed stablecoin. Think of it as a digital dollar token that can move on a blockchain. Circle explains how USDC works on its USDC page.
Traditional settlement runs on banking hours. Weekends and holidays slow down funding, reconciliation, and cash positioning. Visa’s pitch is that a stablecoin transfer can run seven days a week, so banks can square up even when the legacy rails are closed.
For treasury teams, the win is timing. If cash can move on Saturday, you can cut the amount of buffer cash you keep parked for Monday. That does not sound dramatic, but it is the kind of change banks pay attention to.
Why this matters for banks and stablecoins
Stablecoins are growing as digital cash
Stablecoins are not a side category anymore. At the time of writing, DefiLlama’s stablecoin dashboard shows about $309 billion in USD-pegged stablecoins, with USDC near $78 billion.
This is why a Visa settlement feature is more than a crypto headline. It is banks and payment firms using stablecoins as a back-office settlement asset, not just as a trading pair on exchanges.
Circle’s Arc project is part of the same bet
Visa says it is a design partner for Arc, a new Layer 1 network Circle has put into public testnet. Circle’s release on Arc’s public testnet frames it as a network built for real-world financial activity, with predictable fees and fast finality.
Put those two moves together and you get a clear direction: regulated dollar tokens, moved on blockchains, used for settlement and treasury workflows. That direction is also why stablecoin policy matters so much right now, and why banks and financial institutions are keen to explooit it.
Why crypto prices are down anyway
Visa settling in USDC does not require anyone to buy Bitcoin. It does not even require buying Solana. It is a change in how some partners move dollars between each other.
That matters for adoption and future payment products. It is not a direct catalyst for a Bitcoin rally on its own.
At the time of writing, CoinGecko data shows Bitcoin down about 6% over seven days and close to 8% over 30 days. Ethereum is down more over seven days, with a smaller 30-day drawdown.
That price action fits a familiar pattern. Markets can sell off even while long-term adoption keeps moving forward. When positioning is crowded or macro risk rises, traders cut exposure first and ask questions later.
What’s next for Visa
Visa says broader U.S. access is planned through 2026. The key metric is whether the USDC settlement run rate keeps rising, and whether more banks join beyond the first two named participants.
Which stablecoin rules banks end up following
Stablecoin settlement at Visa scale pulls policy into the spotlight. The GENIUS Act debate is not just politics. It shapes what banks can hold, how issuers are supervised, and which stablecoins become acceptable for payment and settlement use.
For now, watch stablecoin supply growth, onchain settlement volume, and policy milestones. If those keep moving in the same direction, the market gets a stronger base under it, even during drawdowns.
Primary sources and further reading
| Source | Title |
|---|---|
| | Visa press release — USDC settlement in the United States |
| | Visa press release — Expands stablecoin settlement support |
| | Circle press release — Arc public testnet |
| | DefiLlama — Stablecoins dashboard |
| | CoinGecko — Bitcoin price |
| | CoinGecko — Ethereum price |
Fact-checked by: Daily Crypto Briefs Fact-Check Desk
Frequently Asked Questions
What did Visa launch in the United States?
Visa says U.S. issuer and acquirer partners can now settle certain VisaNet obligations using Circle’s USDC, with early bank participants settling over Solana.
Does this change anything for cardholders?
No. Visa says the consumer card experience stays the same. The change is in how some partners complete settlement.
Why doesn’t this headline automatically push Bitcoin higher?
Stablecoin settlement is a dollar-settlement feature, not a demand shock for Bitcoin. BTC and ETH still trade like risk assets, driven by liquidity, positioning, and macro flows.
What should readers watch next?
Track which U.S. partners Visa onboards through 2026, whether volume rises from the reported $3.5B annualized run rate, and how U.S. stablecoin rules shape bank adoption.