Visa has launched a USDC and EURC stablecoin pilot for banks and financial institutions, promising instant cross-border payments and modernizing treasury operations.
Visa Launches Stablecoin Pilot for Global Payments
Visa announced at the SIBOS 2025 conference that it is launching a pilot project that allows banks and financial institutions to use USDC and EURC as pre-funded assets for instant cross-border payments. According to Chris Newkirk, president of Visa’s commercial and payment solutions, “cross-border payments are stuck in legacy systems, and it’s time to change that.”
What’s Changing for Banks and Businesses
Instead of freezing large amounts of money in different currencies around the world, pilot participants will be able to top up their Visa Direct balance with stablecoins, which the company equates to cash equivalents. This is expected to reduce currency risks, unlock working capital, and allow payments to be made even on weekends or outside of banking hours.
Scale and prospects
While Visa has already processed more than $225 million in stablecoin payments, this is only a tiny fraction of its annual turnover of $16 trillion. The pilot is currently only available to select partners who meet internal criteria, but the company plans to scale it up as early as 2026.
Competition and context
Visa’s move coincides with news from SWIFT, which is working with Consensys and thirty financial institutions to create a blockchain platform for 24/7 international payments. Meanwhile, startups in the stablecoin market are also attracting large investments: last week, RedotPay received unicorn status after a $47 million round, and infrastructure player Bastion raised $14.6 million with the participation of Sony, Samsung Next, and a16z.
