- Visa initiates a pilot that allows freelancers and creators to get immediate payments using the USDC stablecoin.
- The program speeds up the process of making global payments through Visa Direct with USDC.
- Visa is expanding its integration into blockchain as the initiatives based on stablecoins have now expanded to 40 countries.
Visa has introduced a pilot initiative that will allow companies to make stablecoin payments to creators and freelancers. This is one of the major steps that Visa has made in regard to adopting blockchain-based payments into its massive network.
Visa Expands Global USDC Payments
As it was stated in the official message, the pilot supports Circle’s USDC stablecoin. It allows recipients to choose whether to get a payment in digital dollars or a traditional bank transfer. Visa indicated that the program will speed up, lower the cost, and increase accessibility of payments of various kinds across international borders.
When using Visa Direct, a business is able to issue payouts in fiat, and the recipient converts it to USDC. The process provides almost real-time access to the money, especially to those working in areas where access to banking is low or whose currencies are volatile.
Chris Newkirk, the president of commercial and money movement solutions at Visa, said: “Paying people in stablecoin is not about waiting for days to receive money, but in just minutes. He also included that the feature is for creators, freelancers, and small businesses in any part of the world.
Also Read | Avalanche Partners With Visa, Driving the Next Wave of Stablecoin Adoption
Visa Expands Stablecoin Access
Visa referred to the new feature as a global payment breakthrough. It is an improvement to a pilot that was introduced in September, which allowed companies to pre-fund other companies with stablecoins. This update goes a step higher to allow end users to get their money directly in the form of these tokens.
The feature requires a compatible digital wallet. Also, standard know-your-customer and anti-money-laundering verification of participants is required to use the feature. Visa stated that the pilot will include a few partners for now. But it will open to additional users in 2026 as regulations are adjusted and demand rises.
Initial support will be to USDC only. Visa didn’t name its current partners, although it stated that it had plans to have more partners as the program expands. The involvement in stablecoins comes as regulators from different countries around the world start establishing more definite structures around digital assets.
Visa Deepens Blockchain Integration
According to CEO Ryan McInerney, more than 130 Visa programs are already linked to stablecoins in over 40 countries. He said that stablecoin-linked Visa card spending quadrupled in the last year.
This action by Visa indicates that traditional payment firms are becoming more interested in integrating with blockchain networks.
According to the company, it aims to simplify cross-border payments for freelancers, small businesses, and creators. It will be as basic as sending a message.
Also Read | Stablecoin Payments Go Mainstream: Standard Chartered Teams with DCS for DeCard
