Cross River and Highnote Launch Stablecoin Settlement Capability

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FORT LEE, N.J. & SAN FRANCISCO--(BUSINESS WIRE)--Dec 16, 2025--

Cross River Bank (“Cross River”) a technology infrastructure provider that offers embedded financial solutions, today announced its participation in Visa’s stablecoin settlement pilot. Cross River will be launching this capability with Highnote, the unified platform for issuing, acquiring, credit and real-time money movement, as part of Visa ’s stablecoin settlement pilot program. Visa’s pilot introduces USDC settlement in the United States over the Solana blockchain into a production environment where enterprise payment activity benefits from faster clearing and new possibilities for continuous settlement.

“For stablecoins to realize their full potential they must operate within unified systems. Cross River’s infrastructure is built to bring onchain settlement safely into mainstream financial services,” said Luca Cosentino, Head of Crypto at Cross River. "Our participation in the Visa stablecoin settlement pilot and collaboration with Highnote will enable card issuers to settle network activity seven days a week, demonstrating how this innovation can be implemented effectively in real-world environments."

Stablecoin settlement is rapidly shifting from concept to real-world impact. Visa’s stablecoin settlement pilot marks a shift from theoretical promise to practical implementation, bringing onchain settlement directly into the systems where businesses already issue cards, accept payments, and manage funds at scale. For the first time, U.S. issuer and acquirer partners can settle with Visa in USDC, a fully reserved, dollar-backed stablecoin—unlocking faster funds movement over a blockchain and seven-day settlement availability, improving capital efficiency and economics of card programs, all without any change to the consumer card experience.

“Stablecoin settlement matters when it delivers practical advantages in real payment settings that benefit customers,” said John MacIlwaine, CEO of Highnote. “The future of payment operations is faster, simpler, and always on. Offering this capability at Highnote moves us toward that reality by enabling continuous value movement with more efficient reconciliation. Our unified platform supports this evolution across issuing, acquiring, and money movement, strengthened by the reach of Cross River and Visa.”

Cross River recently launched its stablecoin payments offering, unifying fiat and stablecoin flows through a single, interoperable system. The Highnote program focuses on stablecoin settlement performance in live payment flows, including settlement speed, reconciliation accuracy, and overall operational impact for issuing and acquiring programs powered by Highnote.

The stablecoin settlement capability is introduced through a structured launch with bank supervision and defined settlement parameters. For this pilot, USDC settlement takes place on the Solana blockchain within a secure and compliant framework designed to evaluate how stablecoins can support faster settlement cycles and improved treasury management.

Services are currently only available in limited states.

About Cross River

Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, lending, and crypto solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Leading the industry, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.

About Highnote

Highnote is the unified platform for embedded finance, built for modern card issuance, acquiring, credit, and real-time money movement. Designed from the ground up, Highnote combines elegantly intelligent architecture with powerful developer tooling to deliver seamless, branded financial experiences. With built-in ledgering, integrated payment capabilities, and complete program management, Highnote empowers fintechs, vertical SaaS providers, and enterprises to launch differentiated embedded payments experiences that stand out in any market. Headquartered in San Francisco, Highnote is redefining the standard for modern financial products. Visit highnote.com for more information.

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CONTACT: Media Contacts:

Cross River

Mackenzie DeLuca

[email protected]

(201) 808-7000 ext 778Highnote

Tim Black

Marketing and Communications, Highnote

[email protected]

KEYWORD: CALIFORNIA NEW JERSEY UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY PAYMENTS FINANCE FINTECH BANKING PROFESSIONAL SERVICES SOFTWARE DIGITAL CASH MANAGEMENT/DIGITAL ASSETS BLOCKCHAIN CRYPTOCURRENCY

SOURCE: Cross River Bank

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PUB: 12/16/2025 07:15 AM/DISC: 12/16/2025 07:15 AM

http://www.businesswire.com/news/home/20251216566675/en