Visa's stablecoin settlement pilot has expanded from overseas to the United States. Cross River Bank and Lead Bank have become the first partner institutions to settle using USDC through the Solana network.
What is the significance of this matter? Traditional banking systems' ACH and SWIFT are slow and expensive, while USDC settlement on Solana is 24/7 and almost free of cost. Visa has made it very clear that it is to meet banks' demand for faster and programmable settlements.
