Overview

• Visa began testing a model that lets banks, remitters and other firms preload Visa Direct with stablecoins instead of keeping cash in local accounts.
• The pilot initially supports Circle’s USDC and EURC, with those balances counted by Visa as cash‑on‑hand for payouts that settle to recipients in local currency.
• Visa says the approach aims to cut friction, unlock faster access to liquidity and simplify treasury operations by reducing idle, multi‑currency balances.
• The program is live with select, unnamed partners, and Visa plans a broader expansion in 2026 after assessing performance and compliance.
• Executives cite the GENIUS Act as an adoption catalyst, while market commentators warn the shift could pressure regional banks; Visa may add more tokens and has not ruled out issuing its own in the future as reported.