Cross River Bank has partnered with card-issuing platform Highnote to pilot a new stablecoin settlement capability designed to modernize card payment infrastructure. The initiative focuses on enabling faster settlement between merchants, financial institutions, and Visa by leveraging blockchain technology.
Unlike traditional card settlement processes that can take several days, the new system allows merchants to receive funds in stablecoins in real time or near real time. The collaboration blends Highnote’s card issuance platform with Cross River’s expertise in regulated banking, compliance, and payment processing.
According to Cross River, the solution is designed to operate within regulatory frameworks while unlocking the efficiency of on-chain settlement.
The development builds on the bank’s earlier rollout of a compliant stablecoin payment suite and aligns with Visa’s recent efforts to guide institutions toward blockchain-based settlement. Together, these moves signal a shift from experimental pilots to institutional-grade stablecoin adoption.
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