Visa's Crypto Cashout: Get Paid Instantly in Stablecoins!

Visa has announced a pilot program testing a new payment system where businesses can send funds directly to stablecoin wallets instead of using traditional card networks or bank transfers. Announced at Web Summit in Lisbon, this initiative uses dollar-backed stablecoins like Circle Internet's USDC. The primary target audience includes creators, freelancers, and gig workers who often experience delays in receiving payments, particularly when working internationally.

Businesses can fund these payouts using fiat currency, while recipients have the flexibility to choose their preferred method of receiving funds in digital assets pegged to the US dollar.

Visa highlights that this move aims to expand access to money for individuals in countries with unstable currencies or limited banking infrastructure. Transactions are recorded on public blockchains, offering transparency and simplifying record-keeping.

Chris Newkirk, president of Commercial & Money Movement Solutions at Visa, stated, 'Launching stablecoin payouts is about enabling truly universal access to money in minutes — not days — for anyone, anywhere in the world.'

This follows Visa's earlier pilot in September that allowed businesses to pre-fund payouts using stablecoins. This new phase brings stablecoin utility closer to the end-users, potentially transforming how online platforms compensate global workers.

Visa plans a broader rollout in 2026, dependent on evolving regulatory frameworks and increasing client demand, as it continues to integrate blockchain technology with its established payment network.

Impact This innovation could significantly speed up global payment processes, making cross-border transactions more efficient and accessible for freelancers and businesses. It pushes the adoption of stablecoins and blockchain technology in mainstream finance, potentially influencing how other payment networks and financial institutions operate. The move signals a growing convergence of traditional finance and digital assets, which could attract further investment and development in the fintech sector.

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Difficult Terms: Stablecoin: A type of cryptocurrency designed to maintain a stable value relative to a specified asset, often a fiat currency like the US dollar. It aims to combine the transactional ease of cryptocurrencies with the stability of fiat currencies. Blockchain: A decentralized and distributed digital ledger technology that records transactions across many computers in a way that is secure, transparent, and difficult to alter. Fiat currency: Government-issued currency that is not backed by a physical commodity, such as gold or silver, but by the government that issued it (e.g., US Dollar, Indian Rupee). Digital assets: Assets that are represented in a digital or electronic form, typically recorded on a blockchain. This includes cryptocurrencies, tokens, and NFTs. Cross-border payments: Financial transactions that occur between individuals or businesses located in different countries.