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Visa Pioneers Stablecoin Money Transfers, Slashing Settlement Times

Visa's new pilot program uses stablecoins to speed up international corporate money transfers. Businesses can now send funds globally in minutes, not days.

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1 min read
In this picture, we see the coin in gold and brown color. We see some text written as "The United...
In this picture, we see the coin in gold and brown color. We see some text written as "The United States Of America". It might be a money coin. In the background, it is brown in color and it looks like a carpet.

Visa Pioneers Stablecoin Money Transfers, Slashing Settlement Times

Visa has launched a pilot program to revolutionize international corporate money transfers using stablecoins. The program, built on the Visa Direct platform, aims to provide instant, global, and programmable payouts, ensuring recipients receive funds in their local currency.

The pilot allows corporate clients to pre-fund their Visa Direct accounts with stablecoins like USDC and EURC, treating them as 'money in the bank'. This approach eliminates the need for businesses to hold large sums of cash in advance for international transfers. By leveraging stablecoins, Visa aims to reduce settlement times from days to mere minutes, providing businesses with faster access to liquidity. The ultimate goal is to 'unlock instant, global, and programmable payouts' while ensuring recipients receive payment in their local currency.

Visa's pilot program marks a significant step towards modernizing international corporate money transfers. By harnessing the power of stablecoins and the Visa Direct platform, businesses can now enjoy faster, more efficient, and secure cross-border payments.

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