BlockBeats News, September 30th: Global payment giant Visa has launched a pilot program to test the use of stablecoins for cross-border payments, providing enterprises with a faster remittance method. The pilot program allows enterprises, including banks and money transfer service providers, to pre-fund Visa Direct with stablecoins instead of fiat currency.
Visa considers these stablecoins as “bank deposits” or balances available for payment, allowing enterprises to remit overseas without locking up large amounts of cash days in advance. This pilot aims to shorten the settlement time for enterprises from several days to minutes, enabling businesses to access liquidity more quickly. Visa stated that recipients can still choose to receive in their local currency.
The company further stated that it will test this model with some partners and plans to launch it on a limited scale by April 2026. A spokesperson did not disclose the list of partners but confirmed that the initial stablecoins tested will be Circle’s USDC and EURC. More assets may be added in the future as demand grows.
