Visa CEO Highlights NBX Stablecoin Card With Planned Cardano USDM Support

Visa CEO Ryan McInerney has announced plans to launch a stablecoin-linked Visa Flex credential in Europe with Norwegian Block Exchange (NBX). The exchange’s planned card will support USDM, a dollar stablecoin issued on Cardano.

McInerney introduced the project during Visa’s earnings call on October 27. NBX subsequently confirmed that he was referring to its Visa Flex Card.

Visa Names NBX in Stablecoin Card Plans

During the call, McInerney described the planned product as the world’s first stablecoin-linked Visa Flex credential. The technology allows a single card to access multiple sources of funds.

He presented the NBX project alongside an update on Visa’s Flex business, reporting that the number of Flex credentials had tripled over the previous year. Cash App and Chime were among the new partners he identified.

McInerney also outlined the scale of Visa’s stablecoin activity. The company has more than 225 card programs linked to stablecoins, with five million cards across more than 50 countries, he reported. Its annualized stablecoin settlement volume had surpassed $25 billion, a tenfold increase from the previous year.

NBX Plans Multiple Balances, Including USDM

According to NBX, its card will be linked to balances in Norwegian kroner and stablecoins including USDM, EURN and PLT. Customers will be able to select which balance to spend from in the NBX app while using the same card.

USDM is a dollar-backed stablecoin issued on Cardano. Moneta is its main issuer, while NBX acts as a co-issuer in the European Union.

The exchange describes the planned launch product as a debit card and intends to introduce a credit feature in 2027. Customers seeking credit would need to submit a separate application.

NBX also plans to offer cashback on eligible purchases in Bitcoin, tokenized gold or tokenized silver. The listed rates range from 0.25% to 1.5%, with monthly limits determined by the customer’s reward tier.

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NBX Sets Out European Launch Plans

NBX lists Norway, Germany, Sweden, Denmark and Finland as the initial markets for the card, with Poland expected to follow. The exchange now lists 2027 as the launch year but has not announced an exact date.

The schedule follows an earlier target of the end of the third quarter of 2026. In its September half-year report, NBX stated that a public launch was planned for the second half of 2026 and remained subject to card scheme certification and regulatory requirements.

Tieto Banktech will provide card issuing and payment infrastructure for the program. IDT Finance is supporting it as the issuing bank and partner providing access to Visa’s payment network.

NBX has opened a waiting list for customers with verified accounts. Activity on the platform before launch can determine the cashback tier assigned when a customer receives the card.