Credit Card Giant Visa Pilots Stablecoin Payments To Simplify Global Transfers

Visa announced on Tuesday that it has begun testing a new system, which enables businesses to fund cross-border payments using stablecoins instead of pre-depositing cash into local accounts.

The pilot, enabled through real-time payments platform Visa Direct, reflects how digital tokens are gaining traction among major financial players.

“Cross-border payments have been stuck in outdated systems for far too long,” Chris Newkirk, Visa’s president for commercial & money movement solutions, said in a statement.

“Visa Direct’s new stablecoins integration lays the groundwork for money to move instantly across the world, giving businesses more choice in how they pay.”

Confidence has grown since the US passed the GENIUS Act, which set clear rules for stablecoin issuers and removed much of the uncertainty that had kept large institutions on the sidelines.

Visa Tests Digital Tokens To Free Dormant Cross-Border Funds

Visa has not disclosed the names of its pilot partners. However, it plans to expand the program in 2026. The initiative targets banks, remittance firms and other financial institutions. These players often need to hold funds in multiple currencies to meet local payout requirements.

With stablecoins, Visa aims to change that. The company expects faster transactions and less capital tied up in dormant accounts around the world.

Meanwhile, stablecoins have grown quickly. Their rise has triggered concerns among regulators and banks, who fear they could disrupt existing payment systems. Even so, Visa’s approach signals a different path. Instead of resisting, incumbents appear to be integrating stablecoin rails into existing infrastructure.

Stablecoin Market Growth Fuels Visa’s Expansion Strategy

Meanwhile, Visa’s head of crypto, Cuy Sheffield, expects traditional payments and digital assets to converge. Industry estimates place the stablecoin market at about $269b, up 62% in the past year, with forecasts suggesting it could climb to $2 trillion within three years.

The company has already processed more than $200m in cumulative stablecoin settlement volume. Its strategy positions Visa as a competitor to stablecoins, and as a bridge connecting banks, fintech firms and blockchain networks.

Sheffield’s team has expanded Visa’s settlement capabilities. It has struck partnerships with banks on token issuance, and is also working with fintech firms worldwide.

In 2024, the company introduced the Visa Tokenized Asset Platform. The system allows institutions to issue and manage tokens on blockchains. Since then, Spanish lender BBVA has signalled plans to launch a stablecoin through the platform.