Visa has joined Project BLOOM, an initiative led by the Monetary Authority of Singapore (MAS) to integrate stablecoins with traditional payment networks. The project aims to enable interoperability between conventional financial systems and stablecoin-based rails.
Visa will partner with payments firm Nium to pilot settlements using regulated stablecoins backed by the U.S. dollar and the euro. This initiative tests the feasibility of 24/7 settlements, including weekends and public holidays. The project seeks to reduce transaction delays and improve efficiency for financial institutions currently restricted to business-day-only settlements.