Global payments leader Visa has launched a pilot project for Visa Direct, enabling banks and financial institutions to conduct instant cross-border transfers using USDC and EURC stablecoins issued by Circle.
According to the company, the initiative is designed to optimize liquidity management and speed up settlements for financial service providers. A wider rollout of the program is expected in 2026.
“Today’s cross-border infrastructure relies too heavily on outdated systems. Stablecoins provide the foundation for moving money instantly, 24/7, while expanding payment choices for businesses,” said Chris Newkirk, President of Visa’s Commercial Solutions division.
Stablecoins as Pre-Funded Assets
The pilot allows institutions to use stablecoins as pre-funded assets for cross-border settlement instead of holding fiat reserves across multiple jurisdictions. This shift, Visa notes, helps unlock working capital, lower exposure to currency fluctuations, and make treasury operations more predictable — even on weekends and holidays when traditional systems remain offline.
Visa also treats stablecoins as a cash equivalent for initiating payouts, giving banks and fintech firms a new tool for improving efficiency.
Market Impact and Future Expansion
To date, Visa has processed over $225 million in stablecoin settlements — a small share compared to its $16 trillion annual volume. The pilot remains available only to a select group of qualified partners, but full-scale adoption of Visa Direct with stablecoins is expected next year.
The launch coincides with a similar move from SWIFT, which recently announced the development of its own blockchain-based platform for round-the-clock international transfers.
Earlier, Visa expanded its network by adding support for three stablecoins and two blockchains, further signaling its long-term commitment to digital assets in global payments.
