Summary
- Visa gains PBOC approval for China clearing operations on October 13 2026
- Stablecoin volumes projected to hit $5T B2B by 2035
- Stablecoin adoption accelerating in Asia amid regulatory clarity
Visa got approval from China’s central bank on October 13 2026. It can now prepare for domestic bank card clearing operations. The payments firm gains room to grow in the world’s second-largest economy as private stablecoins gain traction across the region.
This approval puts stablecoin tools in Asia up against state-backed systems. It adds pressure right away in cross-border payments.
"Visa received approval from the People's Bank of China on Oct 13 2026 to begin preparations for domestic operations."
, Visa Press Release (Source)
Context
China keeps pushing its digital yuan while private stablecoins expand. The October 2026 approvals line up with the e-CNY rollout. This creates two tracks for public and private digital payments at once.
A federal stablecoin law passed earlier in 2026 cleared big hurdles for issuers. The law spells out clearer rules for fiat-pegged assets. Market players now work with more certainty across several places.
Details
The approval lets Visa build a domestic clearing setup inside China. Reuters noted the central bank signed off on formal prep for local operations. This step comes after years of tight limits on foreign players in the payments market.
Stablecoin volumes should hit $5T in B2B deals by 2035. That outlook arrives as dollar-pegged tokens see more use in Asian trade settlements. The Visa China approval lands while private options already challenge official routes.
Digital yuan competition stays active. China’s central bank digital currency runs pilots alongside private stablecoin growth. Both aim at faster cross-border flows.
Outlook
Regulators and issuers will track how the new Visa entity fits with existing stablecoin rails in the next few quarters. The mix of domestic licensing and federal stablecoin rules opens the door to bigger institutional use in Asia.