In a significant step for the region’s financial technology landscape, UAE-based payments infrastructure company NymCard has officially enabled stablecoin settlement with Visa across the Gulf Cooperation Council (GCC). This new capability allows NymCard to settle card transactions directly with Visa using USDC, a US dollar-pegged stablecoin.
Modernizing Money Movement
The introduction of USDC settlement marks a pivotal move in digitizing the backend of financial transactions. By leveraging this alternative model, NymCard can facilitate faster, 24/7 settlement, introducing a more streamlined and efficient approach.
This technology allows issuers to significantly lower operational costs, reduce collateral and prefunding requirements, and establishes a foundation for simpler multi-currency settlement in the future. The integration of stablecoins is emerging as a key enabler of global money movement, offering enhanced speed, transparency, and efficiency for cross-border payments.
A Milestone for Regional Payments
This launch reinforces NymCard’s position at the forefront of payment innovation in the MENA region. By implementing this capability, the company is helping to modernize the region’s payments infrastructure while supporting new ways for money to move securely across Visa’s global network.
“We are proud to be the first issuer in the GCC to enable a modern settlement capability with Visa.
This milestone reflects NymCard’s focus on building the payments infrastructure of tomorrow,” said Omar Onsi, Chief Executive Officer of NymCard. “It reinforces our commitment to continuous innovation and bringing advanced payment capabilities to the region.”
Visa’s Vision for Next-Gen Solutions
The collaboration highlights a shared vision for leveraging digital currencies to improve the existing financial system. Visa has been actively exploring stablecoin solutions to provide its partners with more efficient and modern payment options.
“We are pleased to collaborate with Nymcard to bring next-generation settlement solutions to the MENA region,” said Godfrey Sullivan, Head of Product and Solutions for CEMEA at Visa. “Stablecoins are redefining how value moves globally, and this milestone demonstrates Visa’s commitment to empowering financial institutions with speed, transparency, and cost efficiency, without compromising on compliance or reliability.”
About NymCard
NymCard is a leading payments infrastructure company that provides the technology behind card issuing, payment processing, and money movement for financial institutions, fintechs, and enterprises across the CEMEA region.
About Visa
Visa is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Visa’s mission is to connect the world through the most innovative, convenient, reliable, and secure payments network—enabling individuals, businesses, and economies to thrive.
Source: Zawya
