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Dubai, UAE, February 2, 2026.
In a significant advancement for digital payments in the Middle East, fintech firm NymCard has become the first issuer in the Gulf Cooperation Council (GCC) to implement stablecoin settlement with Visa, utilizing Circle's USDC for card transactions.
This move promises to revolutionize settlement processes by enabling faster, round-the-clock operations and reducing costs for financial institutions across the region.
Key Takeaways
- NymCard's USDC integration with Visa enables 24/7 settlements for card transactions in the GCC, marking a first for the region and streamlining operations for financial institutions.
- The partnership reduces costs by minimizing prefunding needs and leverages blockchain for faster, transparent cross-border payments.
- Executives from NymCard and Visa highlight the innovation's role in advancing digital finance, with potential for multi-currency expansions.
- This development aligns with growing stablecoin adoption globally, positioning the GCC as a leader in fintech amid evolving regulations.
Operational Benefits
The initiative, announced today, allows NymCard to settle Visa card transactions using USDC, a dollar-pegged stablecoin, which supports 24/7 settlements and streamlines backend operations.
By integrating blockchain technology into traditional payment rails, the partnership addresses longstanding challenges in cross-border transfers, such as high operational expenses and the need for substantial prefunding or collateral.
Experts anticipate this could pave the way for more efficient multi-currency settlements in the future, enhancing transparency and speed in a region increasingly focused on digital financial innovation.
Executive Statements
Omar Onsi, Chief Executive Officer of NymCard, hailed the launch as a milestone in regional fintech development:
"We are proud to be the first issuer in the GCC to enable a modern settlement capability with Visa," Onsi said. "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."
Echoing this sentiment, Godfrey Sullivan, Head of Product and Solutions for CEMEA at Visa, emphasized the transformative potential of stablecoins:
"We are pleased to collaborate with NymCard to bring next-generation settlement solutions to the MENA region," Sullivan stated. "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."
Regional Context and Implications
The GCC, comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, has been at the forefront of adopting blockchain and digital assets to bolster its financial sector.
This development builds on Visa's global efforts to integrate stablecoins into its network, following similar pilots in the United States and other regions late last year.
For NymCard, a UAE-based company specializing in card issuing and payment processing, the integration underscores its role in digitizing money movement across the Central Europe, Middle East, and Africa (CEMEA) area.
Industry analysts suggest that this collaboration could accelerate the adoption of digital currencies in everyday financial operations, potentially lowering barriers for banks and enterprises in the GCC.
As stablecoin usage grows, with Visa reporting billions in annualized settlement volumes worldwide, the region stands to benefit from more resilient and agile payment systems amid rising global trade demands.
This launch comes at a time when regulatory frameworks in the GCC are shifting to support fintech innovations, ensuring compliance while fostering growth in digital economies.
Conclusion
NymCard's launch of USDC-based settlements with Visa sets a new benchmark for efficient digital payments in the GCC, driving innovation and economic growth through blockchain integration.
Read Next:
- Stablecoin Stats from January 2026: What the Data Actually Shows
- 50 Stablecoin Statistics That Matter in 2026
- Who Is Winning the Stablecoin Infrastructure Race?
FAQs:
1. What Does NymCard's USDC Settlement with Visa Mean for GCC Payments?
NymCard's USDC settlement with Visa means faster 24/7 transaction processing for card issuers in the GCC, reducing costs and enhancing efficiency through stablecoin integration.
2. How Does USDC Improve Visa Transactions in the Gulf Region?
USDC improves Visa transactions in the Gulf region by enabling round-the-clock settlements, minimizing prefunding requirements, and providing transparent blockchain-based operations.
3. Why Is This Launch Significant for Fintech in the Middle East?
This launch is significant for fintech in the Middle East because it positions NymCard as a pioneer in stablecoin adoption, fostering innovation and aligning with regional regulatory advancements.
4. What Are the Broader Implications of Stablecoin Settlements for Global Finance?
The broader implications of stablecoin settlements for global finance include accelerated digital currency use, lower barriers for cross-border trades, and more resilient payment systems worldwide.
Disclaimer:
This content is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice; no material herein should be interpreted as a recommendation, endorsement, or solicitation to buy or sell any financial instrument, and readers should conduct their own independent research or consult a qualified professional.
