Cross River Bank has become one of the first regulated U.S. banks to join Visa’s stablecoin settlement pilot program. In partnership with Highnote, the technology infrastructure provider will begin settling transactions with Visa using Circle’s USDC stablecoin over the Solana blockchain.
The initiative aims to move stablecoin settlement from theoretical concepts into a live production environment. By leveraging Cross River’s unified banking infrastructure, the partnership enables card issuers to settle network activity seven days a week, effectively removing the constraints of traditional banking cut-offs such as weekends and holidays.
Solving the liquidity crunch for SMBs
For small businesses and marketplaces, the integration promises significant improvements in cash flow management. The pilot introduces a settlement window that remains open continuously, allowing merchants to access funds faster regardless of when a consumer purchase takes place.
“Stablecoin settlement matters when it delivers practical advantages in real payment settings that benefit customers,” said John MacIlwaine, CEO of Highnote. “The future of payment operations is faster, simpler, and always on. Offering this capability at Highnote moves us toward that reality by enabling continuous value movement with more efficient reconciliation.”
Bridging legacy and blockchain rails
The pilot utilises Cross River’s proprietary infrastructure to create interoperability between traditional fiat systems and blockchain networks. The system ensures that stablecoin pay-ins are recorded on the ledger as fiat, while payouts can convert fiat into stablecoins within the same transaction flow.
Luca Cosentino, head of crypto at Cross River, highlighted the importance of this hybrid approach: “For stablecoins to realize their full potential they must operate within unified systems. Cross River’s infrastructure is built to bring onchain settlement safely into mainstream financial services. Our collaboration with Visa and Highnote will enable card issuers to settle network activity seven days a week, demonstrating how this innovation can be implemented effectively in real-world environments.”
The program enables U.S. issuer and acquirer partners to settle with Visa in USDC for the first time, offering near-instant fund movements without altering the consumer card experience. The settlement capability is being launched through a structured framework designed to evaluate how stablecoins can support improved treasury management and faster settlement cycles.