Cross River Bank and Highnote will offer a new stablecoin settlement as part of Visa’s stablecoin settlement pilot program.
In a release, the companies stated that the collaboration will offer USDC settlement over the Solana blockchain in a production environment.
Luca Cosentino, Head of Crypto at Cross River, said the partnership with Visa and Highnote will allow card issuers to settle activity seven days a week, showing how innovation can be implemented effectively.
The project is said to mark a shift from theoretical to practical implementation, bringing onchain settlement directly into systems where businesses already use cards.
John MacIlwaine, CEO of Highnote, moves toward that reality of enabling continuous value movement with more efficient reconciliation.
Cross River recently launched its stablecoin payments offering, unifying fiat and stablecoin flows through an interoperable system
Services are currently only available in a limited number of states.