Visa Launches Pilot Program Using USDC for Near-Instant Global Payments

Visa is pioneering a new era of global payments by launching a pilot program that utilizes USDC to facilitate near-instant cross-border transactions. This innovative initiative provides businesses and creators with quicker payment settlement, particularly benefiting those in underserved regions with limited financial access. The program leverages the recent regulatory advancements surrounding stablecoin use in the U.S., empowering Visa to operate within a clear legal framework. 12th November saw the official launch of this program, allowing businesses to send payments in USDC through the Visa Direct platform. This move promises instantaneous cross-border payment processing with USDC as the primary medium of transaction for both recipients and senders. The program aims to significantly improve income speed and accessibility, particularly for freelancers and gig workers, offering faster payouts and increased financial inclusion.