Stablecoins Gain Momentum as Payments Firms Advance Strategies
Stablecoins continue to gain momentum as payments players advance settlement and issuance strategies
Visa partners with Aquanow
Visa expanded its stablecoin settlement capabilities across the CEMEA region through a partnership with Aquanow, a Vancouver-based global digital assets infrastructure provider. The integration enables issuers and acquirers in the network to settle using approved stablecoins such as USDC, aiming to lower costs and reduce settlement times for cross-border transactions.
This development builds on Visa’s earlier pilots that processed stablecoin-based settlement obligations, which have now reached a $2.5 billion annualized run rate. The partnership extends 365-day settlement availability and further connects financial institutions to digital asset infrastructure that supports faster back-end money movement.
Klarna launches its own stablecoin - KlarnaUSD
Klarna introduced KlarnaUSD, a payment-focused stablecoin developed on Tempo, an independent blockchain designed specifically for transactions. KlarnaUSD is built using Open Issuance technology from Bridge and currently operates on Tempo’s testnet ahead of its 2026 mainnet launch.
Klarna’s scale in consumer payments positions the stablecoin as a potential tool for lowering transaction costs, particularly in cross-border transfers where global fees exceed an estimated $120 billion annually. With access to Tempo for early testing and integration, the company is positioning stablecoin functionality within its broader payments infrastructure across 26 markets.
Trends we see emerging from these developments:
Stablecoins are being positioned as operational infrastructure, with Visa using them to improve settlement efficiency and Klarna integrating them directly into payment rails.
Cross-border cost reduction is a shared priority, as both developments reference stablecoins’ role in lowering expenses associated with international transactions.
Payment institutions are expanding beyond pilots into scaled initiatives, illustrated by Visa’s $2.5 Billion annualized run rate and Klarna’s move into stablecoin issuance on a dedicated payments-focused blockchain.
Stablecoins are shifting toward regulated, institution-driven ecosystems, with Visa enabling settlement in approved tokens and Klarna building on a purpose-built blockchain supported by established financial infrastructure providers.
Infrastructure testing phases are becoming more formalized, shown by KlarnaUSD operating on a testnet ahead of planned mainnet launch, indicating structured development cycles for stablecoin-based systems.
Banks and payment providers are deepening partnerships with digital asset infrastructure firms, as seen in Visa’s work with Aquanow and Klarna’s collaboration with Bridge and Tempo.
