Visa has added Monad to the blockchains it supports for settling card payments. The Monad Foundation announced the addition on Tuesday, November 10. Participating financial institutions can now settle their obligations to Visa in stablecoins on Monad, bringing the number of supported networks to 10.
How will Visa use Monad for card settlement?
When a customer pays with a Visa card, funds move between financial institutions after the payment is approved at checkout. Monad comes into play at this settlement stage. Both card issuers and the institutions that process card payments for merchants can choose Monad when settling with Visa.
The practical benefit for institutions is clearest on weekends and holidays. Traditional card settlement follows the banking calendar, while blockchain networks can transfer funds seven days a week. A participating institution can send stablecoins on a Saturday without waiting for banks to reopen on Monday.
Visa already supported Ethereum, Solana, Avalanche and Stellar. In April, it added support for Circle’s Arc, along with Base, Canton, Polygon and Tempo. Dan Roesbery, Visa’s vice president of global onchain partnerships, said the company wants its payment partners to be able to choose the network that best suits their needs.
Visa’s annualized stablecoin settlement volume tops $20 billion
In September, Visa reported that its stablecoin settlement volume had surpassed $20 billion on an annualized basis. The figure reflects how much Visa would settle over a full year at September’s pace. According to Visa, that pace was more than 15 times the level recorded a year earlier.
On Monad, stablecoins in circulation had a combined market value of $632.4 million as of November 10. Circle’s dollar-pegged USDC accounted for 31.15% of that total, according to DefiLlama. These figures measure the value of the stablecoin supply on Monad, independently of Visa’s settlement activity.
Monad plans privacy feature for institutions
The Monad Foundation plans to introduce a feature called Private Settlement in the coming months. It will let institutions transfer funds on the network while keeping sensitive transaction details private. Institutions will be able to share those details with auditors or regulators when needed.
The foundation is building the feature directly into Monad so that private transfers can draw on the same liquidity as other transactions on the network. When the foundation announced Visa’s support for Monad on November 10, it had yet to set a launch date for Private Settlement.
