Visa tests stablecoin payments backed by fiat for US companies

Visa's Stablecoin Pilot: Visa has launched a pilot program in the US allowing businesses to send US dollar-pegged stablecoin payouts directly to crypto wallets, aiming to enhance access to fast digital payments for users globally.

Target Audience and Rollout: The pilot primarily targets international businesses and gig economy workers, with plans for wider access to the service by 2026, following research indicating a preference for digital payments among gig workers.

Expansion of Stablecoin Offerings: This initiative builds on Visa's commitment to blockchain technology, following previous expansions of stablecoin offerings and the introduction of instant transfers using stablecoins like USDC and EURC.

Regulatory Context and Market Growth: Visa's move aligns with new US regulations on stablecoins, as the global stablecoin market surpasses $300 billion, attracting interest from major corporations and venture capital investments in the ecosystem.