Visa pilots fiat-funded stablecoin payouts for US businesses
Visa is piloting a service allowing US dollar stablecoin payouts to crypto wallets from business accounts funded with fiat currency.
Payments giant Visa has launched a pilot in the US, allowing US dollar-pegged stablecoin payouts to be sent from business accounts funded using fiat currency, such as US dollars.
Visa announced the pilot at the Web Summit in Lisbon, Portugal, on Wednesday, which allows users of its digital payments network, Visa Direct, to send stablecoins such as USDC (USDC) directly to a crypto wallet.
The company said the pilot allows recipients to opt to receive their funds in stablecoins and US-based platforms and businesses can send payouts from their fiat currency-funded accounts “directly to users’, workers’, or employees’ stablecoin wallets.”
