Dubai, UAE – NymCard has taken stablecoin settlement with Visa live in the Gulf Cooperation Council (GCC) region, marking a significant step forward in modernizing settlement infrastructure and digitizing the backend of money movement.

This new capability allows NymCard to settle card transactions with Visa using USDC, supporting faster, 24x7 settlement and introducing a more streamlined approach to settlement. By leveraging this alternative model, issuers can significantly lower operational costs, reduce collateral and prefunding requirements, and create a foundation for simpler multi-currency settlement in the future.

Stablecoin settlement is emerging as a key enabler of global money movement, providing enhanced speed, transparency, and efficiency across borders. Through the integration of USDC into settlement flows, NymCard and Visa are helping modernize the region’s payments infrastructure while supporting new, innovative ways for money to move securely and reliably 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. It reinforces our commitment to continuous innovation and bringing advanced payment capabilities to the region.” said Omar Onsi, Chief Executive Officer, NymCard

“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 (NYSE: V) 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.