Wirex, a leading Web3 money app, has announced it is supporting EURC settlements through Visa's stablecoin settlement pilot, marking a significant milestone in the evolution of blockchain-based payments in Europe.

Following the successful completion of a testing phase, Wirex is now live with EURC settlement capabilities via the Visa Network. This collaboration enables near real-time settlement using EURC, a fully backed stablecoin issued by Circle and pegged 1:1 to the euro.

"Partnering with Visa to enable EURC settlements is a major step forward in our mission to make digital currencies practical for everyday payments," said Svyatoslav Garal, Global Head of Payments at Wirex. "This development empowers us to offer even faster and more reliable transactions, giving our customers a seamless experience when moving between crypto and traditional currencies. We're also proud to be the first to implement EURC settlements in the EU."

"Visa continues to expand our stablecoin capabilities on our network, and our work with Wirex to enable EURC settlement is a strong example of that momentum," said Rubail Birwadker, Global Head of Growth Products and Strategic Partnerships, Visa. "It reflects our commitment to modernizing money movement and offering our partners the flexibility to innovate using stablecoins."