Visa New Pilot: Businesses Can Now Settle Payments Directly in Stablecoin, Initial Support for USDC

BlockBeats News, November 12th, Global payment giant Visa announced the official launch of a new pilot program that allows businesses to send payments directly to users in stablecoins, with the first batch supporting USDC issued by Circle. The program aims to provide nearly instant cross-border payments to creators, freelancers, and gig economy workers.

With businesses sending fiat, recipients can choose to receive in USDC. Visa states that this "groundbreaking" pilot program will allow US businesses and platforms to send payments via Visa Direct with fiat as the funding source, while recipients can choose to receive the funds in USDC.

For recipients, this means they can receive income more quickly and borderlessly, especially valuable in regions with significant currency volatility or inadequate banking infrastructure.