Visa launches a stablecoin cross-border payment pilot, providing a new way for businesses to make remittances.

On September 30, global payment giant Visa launched a pilot program to test the use of stablecoins for cross-border payments, providing businesses with a faster remittance option. The pilot allows businesses, including banks and remittance service providers, to pre-fund Visa Direct with stablecoins instead of fiat. Visa views these stablecoins as "bank deposits" or available balances for payments, allowing businesses to remit overseas without locking up large amounts of cash days in advance. The pilot aims to reduce the settlement time for businesses from several days to a few minutes, enabling faster access to liquidity. Visa stated that the recipient can still choose to receive the payment in local currency. The company added that it will test this model with select partners and plans to launch it on a limited basis before April 2026. A spokesperson did not disclose the names of the partners but confirmed that the first stablecoins being tested are Circle's USDC and EURC. With rising demand, more assets may be added in the future.