Overview
- Businesses fund payouts in fiat while recipients can opt to receive USDC in compatible crypto wallets through Visa Direct.
- Visa announced the test on Nov. 12 at Web Summit in Lisbon, with initial access limited to select U.S.-based platforms as partners are onboarded.
- Transactions are recorded on public blockchains for transparency, and recipients must hold a supported wallet and pass KYC/AML checks.
- The effort builds on a September prefunding pilot that let firms preload payouts with stablecoins, with a wider rollout targeted in 2026 subject to regulation and client demand.
- Reporters note practical hurdles such as wallet setup, custody and conversion flows, fee allocation, and integration work that could slow adoption.