Key Notes

On September 30, Visa stated that it would now allow businesses to use stablecoins instead of pre-depositing cash in local accounts.

The prefunding pilot for the initiative will be rolled out soon through Visa Direct.

In the past, Visa has shown massive support for stablecoins and broader digital innovations.

Global payments company Visa Inc. has kick-started a process that would allow it to utilize stablecoins for cross-border remittances. It announced the new development on Sept. 30, citing that the prefunding pilot for the initiative will be rolled out soon through Visa Direct. At the core of this pivot is the speed and low transaction fees that come with these digital assets tied to a fiat currency.

Fixing Slow and Costly Transactions with Stablecoins

Instead of pre-dep

See Full Page