Kuala lumpur: Global leader in digital payments, Visa Inc has announced a breakthrough pilot programme allowing businesses and platforms to send stablecoin payouts directly to recipients’ stablecoin wallets. A stablecoin refers to a type of cryptocurrency designed to maintain a stable value, typically by being pegged to a stable asset like the US dollar.
According to BERNAMA News Agency, Visa head of crypto Cuy Sheffield stated that for businesses using Visa Direct, payouts can be funded in fiat currency, while recipients can choose to receive their funds in US dollar-backed stablecoins like USDC. This transformation is set to enhance the speed and accessibility of global payouts.
Sheffield emphasized that this innovation expands the reach of Visa Direct by providing creators, freelancers, and marketplaces with a stable store of value and faster access to funds, even in markets facing currency volatility or limited banking infrastructure. He shared these insights during a media briefing at the sidelines of the Singapore Fintech Festival 2025.
Sheffield also noted that many leading stablecoin wallets are turning to Visa as their trusted partner. Visa collaborates with top enablers such as Bridge and Rain to ensure a seamless process for wallet providers to issue a Visa credential and connect to Visa’s global network. By embedding a Visa credential in every stablecoin wallet, Visa aims to establish itself as the universal acceptance network for stablecoins.
Furthermore, Visa is partnering with banks worldwide to assist them in defining their digital asset strategies and identifying effective ways to build in the stablecoin space. This includes developing new infrastructure to facilitate banks’ transition on-chain, including stablecoin issuance capabilities.
Meanwhile, Nium Inc, a global infrastructure for real-time cross-border payments, announced its participation in Visa’s stablecoin settlement pilot. This initiative allows select partners to settle with Visa using stablecoins across supported blockchains. Nium’s involvement marks a significant step in modernizing its cross-border money movement by unlocking faster, more secure, and programmable settlement capabilities.
By participating in Visa’s stablecoin settlement pilot, Nium will utilize supported stablecoins, including Circle’s USDC, as a digital settlement rail with Visa. The shift from legacy batch-based systems to blockchain-based stablecoin flows aims to reduce friction, cost, and delays in cross-border settlement, addressing issues such as weekend cut-offs, time zone delays, and slow reconciliation windows.