Dubai: TECHz – News Desk
NymCard has taken stablecoin settlement with Visa live in the Gulf Cooperation Council (GCC) region, marking a significant step forward in modernizing settlement infrastructure and digitizing the backend of money movement.
This new capability allows NymCard to settle card transactions with Visa using USDC, supporting faster, 24×7 settlement and introducing a more streamlined approach to settlement. By leveraging this alternative model, issuers can significantly lower operational costs, reduce collateral and prefunding requirements, and create a foundation for simpler multi-currency settlement in the future.
Stablecoin settlement is emerging as a key enabler of global money movement, providing enhanced speed, transparency, and efficiency across borders. Through the integration of USDC into settlement flows, NymCard and Visa are helping modernize the region’s payments infrastructure while supporting new, innovative ways for money to move securely and reliably across Visa’s global network.
Omar Onsi, Chief Executive Officer, NymCard: “We are proud to be the first issuer in the GCC to enable a modern settlement capability with Visa. This milestone reflects NymCard’s focus on building the payments infrastructure of tomorrow. It reinforces our commitment to continuous innovation and bringing advanced payment capabilities to the region.”
Godfrey Sullivan, Head of Product and Solutions for CEMEA, Visa: “We are pleased to collaborate with Nymcard to bring next-generation settlement solutions to the MENA region. Stablecoins are redefining how value moves globally, and this milestone demonstrates Visa’s commitment to empowering financial institutions with speed, transparency, and cost efficiency, without compromising on compliance or reliability.”
