Visa has launched a pilot program in the United States that allows businesses to send payments with stablecoins pegged to the US dollar directly from their fiat-funded accounts, Visa announced Wednesday.
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Announced at the Web Summit in Lisbon, the service uses Visa Direct to facilitate transfers of stablecoins such as USDC to recipients' cryptocurrency wallets.
The pilot program is designed to allow US-based platforms and businesses to disburse funds "directly to the stablecoin wallets of users, workers, or employees," offering a faster alternative to traditional payment systems.