Visa Adds Monad to Stablecoin Settlement Program

What Visa Added to Its Program

The announcement came from the Monad Foundation and carries a statement from Dan Roesbery, Visa's vice president of global onchain partnerships. Roesbery framed the addition as wider choice for partners and one more step toward settlement infrastructure that runs on multiple blockchains.

Settlement is the step that follows a card purchase. Issuers, the banks that hand cards to customers, and acquirers, the firms that process card payments for merchants, pay each other the amounts owed. In Visa's program that payment moves as stablecoins on a blockchain and not as a bank transfer. Visa listed five settlement stablecoins on its 27 October earnings call, namely USDC, USDG, EURC, PayPal USD and SBC.

The Foundation says on-chain settlement moves funds on weekends and holidays, while traditional card settlement follows a five-business-day banking schedule. It also credits Monad with sub-second finality, which settles a transaction moments after submission. Both claims come from the Foundation and neither appears in Visa's quoted statement.

Monad joins nine networks already in the program. Visa announced support for five of them, Arc, Base, Canton, Polygon and Tempo, in April 2026. The roster as of 10 November 2026 has ten networks.

• Avalanche
• Ethereum
• Solana
• Stellar
• Arc (Circle)
• Base
• Canton
• Polygon
• Tempo
• Monad

Stablecoin Settlement Volume

Three public readings show how fast the program grew in 2026.

A run rate takes recent volume and extrapolates it across twelve months. It describes a pace and not a total settled during fiscal 2026. The two multiples in the table compare against different year-earlier readings, so the ratio fell from September to October while the dollar figure rose. Visa has not broken out stablecoin revenue or margin.

The base is small. Visa Direct alone moved a reported $1.5 trillion across more than 15 billion transactions in fiscal 2026, so the $25 billion run rate equals 1.7% of that volume by our calculation. A tenfold rise puts the year-earlier figure at $2.5 billion.

Open Questions and Risks

The announcement leaves five questions open.

• No Monad-specific settlement volume has been published.
• No issuer, acquirer or bank has been named as a user of the Monad option.
• Private Settlement, Monad's institutional privacy feature, is a published design and not a live product. The Foundation gave no date beyond the coming months.
• The Foundation has not said which of Visa's five settlement stablecoins run on Monad.
• Visa cited 10 blockchains on its 27 October call. The roster reported by The Block before Monad lists nine, and the public documents we reviewed do not reconcile the counts.

Editorial view. Visa calls itself "blockchain-agnostic", and the Monad addition fits that line. The program works as a menu. Each addition widens it, and whether partners order from it is a separate matter, with no number for Monad yet. The network's mainnet went live in November 2025, so Monad has less than a year of production history.

The Foundation links the addition to Private Settlement, a feature meant to keep balances and counterparties confidential while auditors and regulators still see the records. Visa tested a related idea on Canton with stablecoin issuer Brale in June 2026. Until Private Settlement ships and a named institution reports volume, the addition shows availability and nothing more.

Stablecoin settlement also moves reserve risk onto participants. USDC lost its dollar peg in March 2023 when Silicon Valley Bank failed, and holders took losses. A depeg during a settlement window would change the value of what a participant holds or owes. None of the coverage we reviewed says how participants handle that exposure.

Consumer card payments stay as they were, according to Blockonomi. Merchants do not automatically receive stablecoins, according to crypto.news. Consumer-facing stablecoin products run on a separate track, such as the Samsung Wallet USDC launch on Solana we covered on 5 November 2026. A September pilot with Lloyds Banking Group shows the institutional mechanism at work. Lloyds settled $750,000 in USDC with Visa, and the funds arrived within an hour, weekends included.