Visa is expanding its stablecoin-linked card program with Bridge, broadening its geographic reach and pushing toward onchain settlement. The latest move lifts the program from its initial Latin American rollout to 18 countries, with a plan to surpass 100 countries across Europe, Asia-Pacific, Africa and the Middle East by year-end. The expansion builds on the program’s April 2025 debut in markets including Argentina, Colombia, Ecuador, Mexico, Peru and Chile, and comes as the two companies test settlement directly in stablecoins through a pilot tied to Visa’s rails and Bridge’s banking partner. The broader industry context features heightened activity around stablecoins in payments, with rival initiatives in the space highlighting a competitive push toward real-time, programmable settlement.

Key takeaways

• Visa and Bridge are extending the stablecoin-linked card program to 18 countries, with a target of more than 100 countries by year-end across Europe, Asia-Pacific, Africa and the Middle East.
• The program’s initial launch in 2025 covered Latin American markets, including Argentina, Colombia, Ecuador, Mexico, Peru and Chile.
• Settlement is moving toward onchain processing, enabled by Bridge’s collaboration with Lead Bank, allowing transactions to be settled in stablecoins instead of fiat.
• Visa is evaluating potential support for Bridge-issued assets, which are created programmatically by businesses rather than by a traditional issuer.
• The move comes amid broader payments-industry activity around stablecoins, including Mastercard’s recent stablecoin card enablement with MetaMask in the United States.

Tickers mentioned: $USDT, $USDC

Market context: The expansion aligns with a wider shift toward crypto-enabled payments and onchain settlement rails, as major incumbents test how tokens can streamline merchant settlements and reduce counterparty risk in everyday purchases.

Market context: Linked to broader USDt and USDC usage in payments, the push also sits against a backdrop of regulatory scrutiny and ongoing experimentation with tokenized settlement in traditional rails.

Why it matters

The enhanced collaboration between Visa and Bridge underscores a strategic bet on programmable, onchain settlement as a means to speed up merchant settlements and improve transparency for card programs built on stablecoins. By enabling issuers and acquirers to settle transactions directly in stablecoins, the network could reduce latency and friction inherent in fiat conversions, especially for cross-border transactions or cross-currency purchases. The approach also signals an appetite to expand the set of tools available to fintechs and brands that want to issue their own digital dollars or stable assets tailored to their customer base, without relying solely on a third-party issuer.

Bridge’s participation remains central to the evolution of these rails. The program leverages Bridge’s infrastructure to enable onchain settlement, with Lead Bank providing the regulatory and banking framework necessary to move transactions from card networks into the onchain ecosystem. In practice, this arrangement allows card issuers to settle in stablecoins rather than converting transactions to local fiat post-authorization, aligning settlement timelines with blockchain realities and potentially improving settlement finality for merchants and consumers alike.

From a competitive standpoint, the Visa-Bridge expansion sits alongside a broader trend in the payments space: the growing willingness of major processors to experiment with crypto rails. Mastercard, for example, has recently enabled stablecoin card spending in the US through a partnership with the MetaMask wallet, illustrating how traditional payment networks are responding to consumer interest in crypto-backed payments and the desire for real-time settlement capabilities. The juxtaposition of these efforts signals a broader industry push toward integrating crypto-native settlement with fiat-backed consumer spending, while navigating the regulatory and risk considerations that come with such a transition.

Visa’s crypto leadership has been clear about meeting businesses where they operate. Cuy Sheffield, Visa’s head of crypto, has framed the expansion as part of a broader strategy to bring the speed, transparency and programmability of stablecoins into the settlement process. The company is exploring how Bridge-issued assets—stablecoins that are created programmatically by businesses on Bridge’s platform—could be supported more broadly within Visa’s network, a path that could unlock new programmable currency options for merchants and brands that want to control settlement terms or tokenized reward structures. Unlike the most widely used stablecoins issued by independent entities, Bridge-issued assets are designed to be created and managed via Bridge’s infrastructure, a model that could appeal to fintechs seeking bespoke token strategies.

Bridge has positioned the expansion as a step toward more seamless, on-chain settlement for digital-asset-enabled card programs. The practical effect is a potential reduction in the time and complexity involved in moving value from a customer’s stablecoin balance to a merchant’s local currency—an outcome that could matter for shoppers who want near-instant payments and for issuers seeking tighter control over settlement economics. The program’s onchain settlement is described as a natural extension of Bridge’s rail, with Lead Bank acting as the bridge between traditional banking and the onchain settlement layer. In a mid-February update, Bridge noted that it had received conditional approval from a regulator to become a national trust bank, a milestone that underscores the regulatory dimensions of this kind of expansion and the careful navigation required to scale such rails.

As part of the broader, ongoing stablecoin race in payments, Visa’s initiative adds to a landscape where banks and fintechs are willing to experiment with programmable money at the point of sale. The expansion’s strategic rationale rests on creating more options for merchants to accept stablecoins without abandoning familiar payment interfaces, and for consumers to transact with tokens that can be settled efficiently. By aligning with Bridge’s architecture and Lead Bank’s regulatory framework, Visa is building a more integrated model where stablecoins do not live only in wallets or exchanges but become a practical settlement instrument for everyday card purchases.

The announcement also highlights a broader industry trend: the move toward enhanced interoperability between card rails and blockchain settlement. If the onchain settlement pilot proves scalable, issuers may gain more flexibility in structuring rewards, fees and settlement terms around stablecoins, potentially broadening the appeal of crypto-enabled cards to a wider audience of merchants and cardholders. While regulatory considerations remain a constant backdrop, the practical demonstrations of speed and transparency in settlement have kept this initiative in the spotlight as a potential blueprint for future integrations across the payments ecosystem.

What to watch next

• Timeline and results of the onchain settlement pilot with Lead Bank and Bridge; potential adjustments to settlement cadence and liquidity requirements.
• Progress toward the goal of reaching 100+ countries by year-end, and which markets will be prioritized in the near term.
• Details on Visa’s potential support for Bridge-issued assets and any regulatory approvals that shape that path.
• Regulatory developments regarding Bridge’s national trust bank status and how they affect cross-border card programs.

Sources & verification

• Visa and Bridge expansion to over 100 countries: official Visa investor relations announcement.
• Original Latin American rollout: Visa and Bridge collaboration announcement outlining the April 2025 launch.
• Onchain settlement pilot and Bridge-Lead Bank collaboration: Visa press materials and Bridge announcements, including regulatory status updates.
• Industry context: Mastercard’s stablecoin card spending in the US via MetaMask—contextual reference in related coverage.

Key figures and next steps

Market reaction and key details

Why it matters

The Visa-Bridge collaboration represents a deliberate push to embed stablecoins deeper into everyday payments while testing the viability of onchain settlement for consumer card programs. If the pilot demonstrates efficiency gains and regulatory viability, issuers and merchants could gain access to more flexible settlement terms and new token-based monetization options. For users, the prospect of faster settlement and more predictable funds availability could enhance the appeal of stablecoins as a practical payments tool, particularly for cross-border purchases and commerce that spans multiple currencies.

Beyond Visa, the broader payments ecosystem is watching how these rails will coexist with existing fiat-based settlement, risk controls, and compliance regimes. The tension between innovation and regulation remains a key driver, but the ongoing experiments with stablecoins at the point of sale reflect a maturing phase in crypto-enabled payments where real-world usage and governance concerns are increasingly aligned. As more institutions participate, the competence and reliability of onchain settlement in consumer contexts will be tested under a variety of market conditions, from everyday retail transactions to cross-border remittances.

What to watch next

• End-of-year milestones for country expansion and the potential scaling of onchain settlement.
• Regulatory updates on Bridge’s national trust bank status and related compliance requirements.
• Adoption metrics from merchants and issuers participating in the program, including any changes in settlement times and cost structures.