Visa Launches Stablecoin Pilot for Faster Cross-Border Payments

According to BlockBeats, Visa has initiated a pilot project to test the use of stablecoins for cross-border payments, aiming to provide businesses with a quicker remittance method. This initiative allows companies, including banks and remittance service providers, to pre-fund Visa Direct using stablecoins instead of fiat currency. Visa regards these stablecoins as 'bank deposits' or balances available for payments, enabling businesses to remit funds overseas without locking in large cash amounts days in advance. The pilot seeks to reduce settlement times from several days to mere minutes, enhancing liquidity for businesses. Visa noted that recipients can still opt to receive payments in their local currency. The company plans to test this model with select partners and intends a limited rollout by April 2026.