Monad joins Visa's stablecoin settlement program as run rate tops $25 billion

Participating Visa issuers and acquirers can now settle obligations in stablecoins on Monad, the Monad Foundation announced on Nov. 10, adding a new network option to the payment network's stablecoin settlement program.

The foundation said Visa had added support for Monad as a settlement network, giving banks and payment firms another blockchain for moving funds after card transactions. Visa had not published its own announcement as of the time of the Unchained report that day, and the foundation's release does not name participating card issuers or acquirers or specify which stablecoins will settle on the network.

"Our goal is to give our partners the flexibility to settle on the blockchain networks that best meet their needs," said Dan Roesbery, Visa's vice president of global onchain partnerships and go-to-market, in the release. "Adding support for Monad expands the options available to our partners and is another step toward building a multi-chain settlement infrastructure for stablecoin-enabled payments."

Visa reported an annualized stablecoin settlement run rate of $25 billion as of September 2026, up roughly 10 times year over year, alongside more than 225 stablecoin-linked card programs live globally, according to figures the foundation cited from Visa. Chief Executive Ryan McInerney gave the same run rate on Visa's Oct. 27 earnings call, crypto.news reported, saying annualized volume had surpassed $25 billion.

The addition extends a list that Visa outlined in an April 29 release adding five blockchains: Arc, Base, Canton, Polygon and Tempo, alongside Avalanche, Ethereum, Solana and Stellar. By Oct. 27, McInerney said on the earnings call that Visa supported 10 blockchains in settlement, without naming them, Unchained noted. Neither Visa nor the foundation said whether that count included Monad.

Monad is an Ethereum Virtual Machine Layer 1, so card issuers and acquirers whose custody, wallet and compliance systems already work with Ethereum can usually connect them to Monad without building new ones, the foundation said. The network claims 10,000 transactions per second, 400-millisecond block times and more than 200 independently operated validators.

Privacy support has not shipped. The release said Monad's Private Settlement feature, designed to keep commercially sensitive payment details off public view while still allowing auditors and regulators to see them, will reach Visa's partners in the coming months. It is not live yet.

NewsBTC described the change as a back-office infrastructure update rather than a consumer product, with settlement running between financial institutions after a cardholder pays a merchant.

Keone Hon, co-founder and general manager of the Monad Foundation, said in the release that the next phase depends on whether institutions can keep sensitive flows confidential without leaving open networks, and called the Visa addition, together with the privacy functionality under development, a step in that direction.

Card settlement traditionally runs on a five-business-day schedule over banking rails, the foundation said, while blockchain settlement can move funds on weekends and holidays. When a cardholder pays a merchant, the retail transaction and the later movement of funds between financial institutions are separate steps; Visa has been expanding the second step onto public chains.

The $25 billion run rate compares with the $7 billion figure Visa published in April, when the pilot supported nine blockchains and more than 130 stablecoin-linked card programs, the April release shows. McInerney said on the October call that Visa supports five stablecoins in settlement: USDC, USDG, EURC, PYUSD and SBC, according to Unchained.

The Monad network held its token sale on Coinbase in November 2025. The foundation's release, citing Visa figures, said the settlement run rate had grown about 10 times from a year earlier and that more than 225 card programs were live; Unchained calculated that the $25 billion pace is about 3.6 times the April figure in roughly five months.

Monad's official X account said the option is live. The foundation's document names no issuers or acquirers going live on the new rail, and Visa had not posted its own notice as of the Unchained report.