Visa, the global payments leader, has introduced a pilot program in the United States that allows businesses to pay employees using stablecoins like USD Coin (USDC) directly to crypto wallets, bypassing traditional banking systems. Announced at the Web Summit in Lisbon, Portugal, this service utilizes Visa's digital payment network, Visa Direct, to facilitate real-time transactions, with a wider rollout planned for 2026.
The pilot enables U.S.-based companies to convert fiat currency, such as U.S. dollars, into stablecoins for payouts to workers, particularly targeting international businesses and the gig economy. According to Visa's research, 57% of gig workers prefer digital payment methods for faster fund access, highlighting the demand for such innovations. Chris Newkirk, Visa's president of money movement solutions, emphasized, "Launching stablecoin payouts is about enabling truly universal access to money in minutes, not days, for anyone, anywhere in the world."
Key advantages include speed, with transactions completing in minutes instead of days; cost-efficiency, reducing fees compared to traditional wire transfers; and flexibility, allowing employees to hold or convert stablecoins as needed. Visa is currently onboarding select partners for the pilot, with regulatory compliance being a focus amid the U.S. GENIUS Act, which provides federal stablecoin guidelines.
This initiative builds on Visa's broader stablecoin expansion, including the addition of Global Dollar (USDG), PayPal USD (PYUSD), and Euro Coin (EURC) to its settlement platform on Stellar and Avalanche blockchains in July. It aligns with growing corporate interest in digital assets, as seen with Citigroup and Western Union exploring similar payment systems, while the global stablecoin market has exceeded $300 billion this year.
