Overview

• The pilot lets banks and money-transfer firms preload Visa Direct settlement balances with dollar- and euro-pegged tokens instead of parking funds in local accounts.
• Visa says the approach can speed cross-border payouts and reduce trapped liquidity, with end users receiving disbursements in local currency.
• Participating institutions were not disclosed, and industry reports identify Circle’s stablecoins as the first being tested.
• Visa plans to broaden the program in 2026 after initial testing with select partners.
• The move reflects growing institutional acceptance of stablecoins after the GENIUS Act, even as some analysts warn the shift could pressure regional banks.