Original sourceThe Fintech Times
Summary
Lightspark launched a Visa card program with account balances natively held in USDC stablecoin, converted to local fiat at the point of sale, and settled entirely in USDC. The program is issued by Lead Bank, processed by Lithic, and integrated into Lightspark's Global Accounts platform, which alrea…
Key points
- This is an example of linking issuance, stablecoin settlement, and a card network into a single real-time program, highly relevant for payment firms assessing whether stablecoins can reduce intermediary costs in cross-border settlement.
- A Visa card program settled entirely on-chain in USDC shows how stablecoins can materially change costs and speed at the issuance and clearing layers without changing the consumer card experience.
- Payment firms can evaluate replacing some intermediary account flows with stablecoin settlement; the user card experience is unchanged, but issuers and processors must simultaneously meet US money transmission, MiCA, and UK stablecoin regime requirements.
Editorial note
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