From Danni Haizal Danial Donald
SINGAPORE, Nov 12 (Bernama) -- Global leader in digital payments, Visa Inc has announced a breakthrough pilot programme allowing businesses and platforms to send stablecoin payouts directly to recipients’ stablecoin wallets.
A stablecoin refers to a type of cryptocurrency designed to maintain a stable value, typically by being pegged to a stable asset like the US dollar.
Visa head of crypto Cuy Sheffield said that for businesses using Visa Direct, payouts can be funded in fiat currency, while recipients can choose to receive their funds in US dollar-backed stablecoins like USDC, transforming the speed and accessibility of global payouts.
“This innovation expands the reach of Visa Direct by providing creators, freelancers and marketplaces with a stable store of value and faster access to funds - even in markets facing currency volatility or limited banking infrastructure
“We think there's a massive opportunity to grow the money movement business using these routes,” he told a media briefing at the sidelines of the Singapore Fintech Festival 2025 here today.
On stablecoin wallets, Sheffield said many of the leading stablecoin wallets turn to Visa as their trusted partner, collaborating with top enablers like Bridge and Rain to make it seamless for wallet providers to issue a Visa credential and connect to Visa’s global network.
“By embedding a Visa credential in every stablecoin wallet, we’re positioning Visa as the universal acceptance network for stablecoins,” he said.
Furthermore, he noted that Visa is partnering with banks around the world to help them define their digital asset strategies and identify how they can effectively build in the stablecoin space.
“At the same time, we’re developing a new generation of infrastructure designed to make it seamless for banks to come on-chain including stablecoin issuance capabilities,” he added.
Meanwhile, Nium Inc, a global infrastructure for real-time cross-border payments, today announced it has elected to participate in Visa’s stablecoin settlement pilot, an initiative that enables select partners to settle with Visa using stablecoins across supported blockchains.
It said in a statement today that the introduction of stablecoin settlement to Nium’s operations marks a significant step forward in modernising its cross-border money movement, unlocking faster, more secure and programmable settlement capabilities.
“By participating in Visa’s stablecoin settlement pilot, Nium will harness supported stablecoins, including Circle’s USDC as a digital settlement rail with Visa.
“By moving settlement from legacy batch-based systems into blockchain-based stablecoin flows, Nium aims to reduce friction, cost and delays in cross-border settlement, including addressing pain points such as weekend cut-offs, time zone delays and slow reconciliation windows,” it added.
-- BERNAMA
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