Visa Adds Monad for Institutional Stablecoin Settlement

By Daniel Okafor

Visa reported that its stablecoin settlement program reached an annualized run rate of $25 billion by Oct. 27, 10 times its year-earlier pace. Visa has added Monad as a blockchain option for stablecoin settlement by participating issuers and acquirers.

That figure represents the recent pace projected across a full year, not $25 billion in cumulative volume. It covers Visa’s broader settlement program and does not identify activity on Monad.

What does Visa’s Monad integration cover?

Participating issuers and acquirers can use supported stablecoins to settle Visa obligations on Monad. The chain addition extends Visa’s payment-network infrastructure and provides eligible financial institutions with another settlement route; it does not extend stablecoin settlement to consumer card purchases.

The service covers transfers between participating financial institutions and Visa. The use case is institutional settlement, not consumer card purchases: institutions use supported stablecoins to resolve obligations with Visa through the program.

When can settlement occur?

Monad-based transfers can take place on weekends and holidays, outside standard bank settlement hours. That creates an operating window for eligible institutions to settle their Visa obligations when banks are closed, including on days that would fall outside normal business processing.

The timing applies only within that stated perimeter. Visa described the service as available to participating issuers and acquirers, so institutions must fall within the program to use the supported stablecoins and Monad route for obligations tied to Visa.

What is Monad Private Settlement?

Category Labs is developing Monad’s Private Settlement feature to shield institutional transaction details while preserving authorized oversight. The feature remains under development and is not live. Visa’s decision to include Monad does not make those privacy controls available to participants now.

That distinction separates network access from feature availability. Institutions can use supported stablecoins to settle eligible Visa obligations on Monad, but they cannot treat Private Settlement as an operating control until Category Labs releases and deploys the feature. No launch date was announced.

How large is the settlement program?

The $25 billion figure reflects Visa’s full stablecoin settlement program, not transaction volume attributable to the newly added chain. Visa’s Oct. 27 disclosure put the program’s annualized run rate at 10 times its year-earlier pace.

Because the metric annualizes recent activity, it should not be read as $25 billion of settled value accumulated during a full year. The figure also cannot be assigned to Monad, a particular supported stablecoin or any single issuer or acquirer because the disclosure provides none of those breakdowns.

What changes operationally?

The immediate change is institutional access to Monad as a settlement route for supported stablecoins, including transfers outside standard bank settlement hours. The longer-term structure depends on Private Settlement going live: until then, the chain support and privacy layer remain separate, and institutional privacy benefits should not be inferred from inclusion alone.

Visa’s broader program is scaling, but the disclosure provides no chain-specific adoption figure for Monad and no timeline for Private Settlement. The next structural checkpoint is live deployment of that feature; until it arrives, Monad’s addition changes where eligible institutions can settle, not whether institutional transaction details receive the intended shielding.