Source: Global Newswire
Visa Canada and Wealthsimple have announced a collaboration to bring stablecoin settlement to the Canadian market for the first time through Visa’s pilot program. This marks a significant milestone in Visa’s global stablecoin strategy and underscores both companies’ commitment to modernizing the payment infrastructure underpinning commerce across Canada.
Through this pilot, Wealthsimple can now satisfy certain settlement obligations with Visa Canada in USD Coin (USDC), bringing stablecoin settlement to the Canadian market.
The announcement builds on Visa’s growing global stablecoin momentum, which recently surpassed a $7 billion annualized run rate globally in settlement volume. With the launch of this pilot, Visa is extending that proven capability into Canada for the first time—bringing global scale and experience to the market.
“Visa was one of the first major payment networks in the world to settle transactions in stablecoin, and grew that capability into a proven, global pilot program now processing billions in settlement volume. Canada is a natural home for what comes next,” said Michiel Wielhouwer, president and country manager, Visa Canada.
“By bringing stablecoin settlement to Canada with Wealthsimple, we are building the infrastructure that lets the best ideas in money movement become reality at scale. Canadian innovation deserves world-class rails, and that is what we are here to provide.”
A new way to settle in Canada
This pilot marks a foundational step toward a modern settlement system for participating Visa members in Canada.
By enabling settlement in USDC, it shows how stablecoins can integrate with existing payment rails to support institutional‑grade settlement flows. It also gives institutions a way to move beyond traditional settlement limits and explore new capabilities as adoption grows, enhancing existing systems with greater speed, flexibility, and reliability.
What the pilot enables:
- Seven-day settlement: Enabling more continuous settlement with Visa beyond traditional five-day settlement cycles.
- Foundation for next-generation liquidity management: Supporting future automation, treasury efficiency, and flexible capital positioning.
- Interoperability with existing payment infrastructure: Combining blockchain-based settlement with Visa’s global standards for security, reliability, and compliance.
Hanna Zaidi, vice president, payments strategy and chief compliance officer, Wealthsimple
With Wealthsimple as the first partner in Canada, the pilot shows how stablecoins can power real‑world settlement flows in Canada today, while laying the groundwork for broader capabilities as regulation, technology, and market demand continue to mature.
“Stablecoins represent a fundamental shift in how money moves faster, smarter, and without the constraints of legacy systems. Wealthsimple is proud to be the first Canadian financial institution to bring this capability to life with Visa,” said Hanna Zaidi, vice president, payments strategy and chief compliance officer, Wealthsimple.
“We see this pilot as the first of many opportunities for Canada to build towards a more dynamic and efficient payments system.”
The expansion into Canada extends Visa’s active stablecoin settlement pilots, which span multiple markets across Latin America and the Caribbean, Europe, Asia Pacific, and Central Europe, Middle East and Africa. Canada joins this pilot as Visa accelerates its effort to bridge the power of blockchain with the reliability and reach of one of the world’s leading payments networks.
Visa is a Platinum Partner of Open Banking Expo UK & Europe 2026, which takes place on 13-14 October at the Business Design Centre in London. Click here to find out more .
Further reading: Visa and Fiserv expand partnership to simplify payment acceptance across Europe
