Visa Launches Swift Payments Using Dollar-Backed Stablecoins

Visa, a leading financial services company, has unveiled a groundbreaking payment system at the Web Summit in Lisbon that enables faster and more efficient international payments for freelancers, content creators, and digital service providers. The pilot program utilizes stable cryptocurrencies like USDC to eliminate delays in sending money internationally. While businesses can initiate payments using fiat currency, recipients have immediate access to funds by receiving payouts in stablecoin wallets within seconds.