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.
