Stablecoin settlement
Visa, market infrastructure, on Ethereum since March 2021.
Ethereum settlement dates to Visa's 2021 USDC pilot; the cited 2026 release confirms Ethereum as pre-existing but does not date it, so first_observed carries that uncertainty. Base and Polygon were added on 2026-04-29 alongside Canton, Arc and Tempo. Arc and Tempo are separate chains, not Ethereum layer twos. No Ethereum-specific volume is published, and Visa's own release frames parts of the expansion in pilot terms.
In the record
65
months from first observation to the record's assessment of August 2026
4
market infrastructure rows in the record, this one included
45
rows filed to Ethereum by their sources
What it bears on
R3Do we know what this instrument is, legally, in every venue we operate?
needs design
ETH is a digital commodity in the United States and stablecoin law is in force. Market-structure legislation stalled, and jurisdictions are diverging.
R6Who is the counterparty when there is no counterparty?
needs design
An ownerless system meeting procurement built for vendors. Six organisations can take your first call, and our own unincorporated status is part of this problem, not outside it.