SAN FRANCISCO–Visa said it has begun testing a new system that enables businesses to fund cross-border payments using stablecoins instead of pre-depositing cash into local accounts.
The pilot, enabled through real-time payments platform Visa Direct, reflects how digital tokens are gaining traction among major financial players, according to the company.
Visa said confidence has grown in the U.S. in the technology since passage of the GENIUS Act, which set clear rules for stablecoin issuers and removed much of the uncertainty.
Visa has not disclosed the names of its pilot partners but said it it plans to expand the program in 2026. The initiative targets banks, remittance firms and other financial institutions.
“These players often need to hold funds in multiple currencies to meet local payout requirements,” Visa said.
With stablecoins, Visa said it aims to change that. The company expects faster transactions and less capital tied up in dormant accounts around the world.
Industry estimates place the stablecoin market at about $269 billion, up 62% in the past year, with some analysts suggesting it could climb to $2 trillion within three years.
$200 Million in Volume
Visa said it has already processed more than $200 million in cumulative stablecoin settlement volume.
In 2024, the company introduced the Visa Tokenized Asset Platform, which allows institutions to issue and manage tokens on blockchains. Since then, Spanish lender BBVA has indicated it plans to launch a stablecoin through the platform.
