- VISA is testing direct payment to stablecoin wallets for businesses to pay freelancers and gig workers.
- The system uses dollar-backed stablecoins like Circle Internet’s USDC to speed up payouts.
- The pilot aims to help recipients in countries with unstable currencies or limited banking access.
- Transactions use public blockchains for transparency and simplified recordkeeping.
- Visa plans wider deployment in 2026 as regulations and demand evolve.
Visa announced at a recent tech event in Lisbon it is piloting a new payment system that enables businesses to send money directly to stablecoin wallets. The funds are delivered using dollar-backed stablecoins, such as Circle Internet’s (CRCL) USDC. This move targets creators, freelancers, and gig workers who face payment delays, especially when working internationally. Businesses convert their fiat currency into stablecoins, and recipients receive payments in these digital assets pegged to the U.S. dollar.
The pilot program focuses on improving access to funds in countries with volatile currencies or limited banking infrastructure. By recording transactions on public blockchains, Visa aims to offer transparency and easier recordkeeping. These blockchains are decentralized digital ledgers that track transactions securely and openly.
Chris Newkirk, president of Commercial & Money Movement Solutions at Visa, said, “Launching stablecoin payouts is about enabling truly universal access to money in minutes — not days — for anyone, anywhere in the world.” He highlighted benefits for creators, businesses expanding globally, and freelancers managing cross-border work.
This initiative builds on a pilot launched in September where businesses could pre-fund payouts using stablecoins. The current phase moves stablecoin payments closer to end users and could transform how online platforms pay global workers.
Visa intends to expand the program broadly in 2026, depending on evolving regulatory frameworks and increasing client interest. This effort is part of merging blockchain technology with Visa’s established global payment network to improve financial accessibility and efficiency.
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