Visa pilots fiat-funded stablecoin payouts for US businesses
2 min read
Payments giant Visa has launched a pilot in the US, allowing US dollar-pegged stablecoin payouts to be sent from business accounts funded using fiat currency, such as US dollars.
Visa announced the pilot at the Web Summit in Lisbon, Portugal, on Wednesday, which allows users of its digital payments network, Visa Direct, to send stablecoins such as USDC (
Visa expands stablecoin push as US regulations crystallize
Visa’s latest move builds on its growing commitment to blockchain-based settlement and payments.
In July, Visa expanded stablecoin offerings on its settlement platform by adding Global Dollar (USDG), PayPal USD (PYUSD), and Euro Coin (EURC) across the Stellar and Avalanche blockchains.
Related: Crypto Biz: Wall Street giants bet on stablecoins
In September, Visa Direct began piloting instant transfers using USDC and EURC, allowing faster treasury settlement between businesses.
Visa’s expansion comes as payment networks move to capitalize on new regulatory clarity in the United States following the passage of the GENIUS Act, a landmark bill establishing federal guidelines for stablecoins.
More corporations are entering the space, with banking giant Citigroup exploring stablecoin payments and Western Union planning to launch a digital asset settlement system on Solana.
Meanwhile, Wall Street banks such as JPMorgan and Bank of America are in the early stages of developing their own stablecoin initiatives.
Stablecoin startups are also drawing significant venture capital, with recent deals funding companies active in the stablecoin ecosystem, such as Telcoin, Hercle and Arx Research.
Magazine: GENIUS Act reopens the door for a Meta stablecoin, but will it work?
