TLDR
- Visa has launched a pilot program for stablecoin payouts using USDC to enhance global payment options.
- The initiative allows U.S. platforms to send payouts directly to third-party wallets, including Coinbase.
- Freelancers and contractors can now choose to receive payments in USDC instead of traditional bank transfers.
- The pilot ensures compliance and compatibility by initially supporting USDC during the early stages.
- Visa Direct powers the program, processing over $10 billion in real-time transactions annually.
Visa has introduced a pilot program for stablecoin payouts using USDC. The initiative connects traditional financial systems with blockchain technology to offer global businesses and creators a new payment option.
The pilot program is designed for U.S. platforms and companies to send payouts in USDC. Recipients, such as freelancers and contractors, can opt to receive payments in stablecoins instead of traditional bank transfers. Visa’s new feature supports USDC during the initial phase to ensure compliance and compatibility across platforms.
Visa Expands Payment Options with USDC
Visa’s pilot allows U.S. companies to transmit payouts directly to third-party wallets, including Coinbase. This provides an alternative to traditional banking systems, allowing recipients to bypass multi-day delays. The service promises instant, transparent payments with stable value, addressing global payment challenges.
The company aims to support up to 100% of rewards in stablecoins, giving recipients more flexibility. Visa Direct powers the service, processing over $10 billion in real-time transactions annually.
“The ability to receive payments instantly in stablecoins will benefit many creators and gig workers,” Visa said in a statement.
USDC Pilot Promises Transparency and Compliance for Payments
Visa’s stablecoin payout pilot aims to reach people in emerging markets with limited access to banking services. The company estimates that over a billion people are unbanked but could use stablecoins for personal and business transactions. Stablecoins like USDC could offer a reliable payment option, especially for those in regions with less access to traditional banking infrastructure.
Every transaction made via the pilot will be recorded on-chain, ensuring transparency and regulatory compliance. The initiative also focuses on providing users in emerging markets an easy way to receive and use stablecoins. Visa’s collaboration with global services like Nium aims to streamline cross-border payments further.
The pilot is available to select U.S. partners and plans to expand globally by 2026. As demand grows and regulatory clarity improves, Visa expects the program to become more widely available.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
