NymCard and Visa enable stablecoin settlement for faster 24/7 payments in GCC
Dubai, UAE – February 2, 2026 — NymCard and Visa announced a stablecoin settlement integration using USDC to modernize payments infrastructure across the Gulf Cooperation Council. The capability enables faster 24/7 settlements, lower operational costs, and reduced collateral requirements for card issuers. NymCard becomes the first GCC issuer to launch this settlement method with Visa’s global network.
Announcement Specifics
The Dubai-based payments platform now settles card transactions with Visa using USDC stablecoin across the GCC region. The integration covers issuers throughout the Gulf states, leveraging Visa’s global network for enhanced efficiency. Transaction volumes and specific implementation timelines remain undisclosed. The settlement infrastructure provides 24/7 availability and establishes foundations for streamlined multi-currency operations.
Stakeholder Perspectives
“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. It reinforces our commitment to continuous innovation and bringing advanced payment capabilities to the region.”
— Omar Onsi, CEO at NymCard
Why it matters: This positions NymCard as a regional infrastructure leader following its $33 million Series B funding round.
“We are pleased to collaborate with Nymcard to bring next-generation settlement solutions to the MENA region. 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.”
— Godfrey Sullivan, Head of Product and Solutions for CEMEA at Visa
Why it matters: The statement signals Visa’s expansion of its global stablecoin settlement program into Middle Eastern markets.
Industry Context
Stablecoins like USDC enable programmable money, reducing settlement times from days to seconds. Visa has expanded stablecoin settlement globally, with US pilots contributing to an industry-wide $4.5 billion annualized run rate. In MENA, fintechs target a $3.8 trillion payments market through partnerships with card networks for issuing and remittances.
GCC financial hubs including Dubai and Riyadh continue driving digital finance innovation. This integration positions the region for more efficient cross-border payment flows, supporting UAE and Saudi Arabia’s visions for cashless economies amid developing regulatory frameworks for stablecoin operations.
Looking Ahead
The Visa stablecoin settlement capability establishes groundwork for future multi-currency settlement expansion, promising enhanced operational efficiency and competitive advantages for GCC financial technology providers.
