PARIS, France, June 30. The volume of
stablecoin transactions has increased 60-fold in the Central and
Eastern Europe, Middle East, and Africa (CEMEA) region. Visa has
recorded a sharp increase in the use of stablecoins within its
payment infrastructure, including a 60-fold increase in transaction
volume in the CEMEA region over the past 12 months and a global
annual transaction volume of $7 billion, Visa’s Senior Vice
President and Head of Products and Solutions for the CEMEA (Central
and Eastern Europe, Middle East, and Africa) region, Godfrey
Sullivan said, Trend's special correspondent reports from the
event.


Sullivan made the remark during an information session at the
Visa Payments Forum in Paris


According to him, the company is actively integrating
stablecoins into its global ecosystem and working with partners in
the CEMEA region to enable payments using digital assets through
Visa’s infrastructure.


He noted that as of the end of April this year, the volume of
settlement transactions in stablecoins had reached approximately $7
billion on an annualized basis, indicating a significant level of
adoption of the technology.


“We are actively integrating stablecoins into our ecosystem and
working with partners in the CEMEA region so they can process
payments through Visa using stablecoins. Globally, we have reached
approximately $7 billion in annualized transaction volume,” he
said.


According to him, Visa is working with nine blockchain networks,
including Ethereum, Solana, and Base, developed by Coinbase.


He emphasized that the use of stablecoins brings tangible
benefits to the banking sector: it speeds up cross-border payments,
reduces correspondent bank fees, and decreases the need for
collateral thanks to instant settlements.







“This allows banks to process transactions faster and at lower
cost… and reduces collateral requirements, since settlements occur
instantly,” he noted.


The Visa representative added that the company has seen a
60-fold increase in settlement volumes in the CMEA region over the
past year and is expanding partnerships with market participants to
scale the technology.


He also highlighted interest from central banks, which view
stablecoins and cryptoassets as a practical tool for testing
digital payments in a controlled environment involving trusted
banks and Visa’s infrastructure.


According to him, the company is in talks with a number of
central banks and markets regarding the implementation of such
solutions.


Visa is also developing a partner ecosystem: approximately 160
programs with digital wallets and cryptocurrency exchanges allow
users to use stablecoins and cryptocurrencies to make payments at a
network of 175 million merchant locations worldwide.


Therefore, digital assets are gradually being integrated into
the traditional financial system, enabling faster and more
accessible payments for banks, fintech companies, merchants, and
end users.