Visa Pioneers Stablecoin Pilot for Faster Business Money Transfers
Visa has launched a trailblazing pilot program to transform international money transfers for businesses. The program, centered around stablecoins, seeks to optimize cross-border payments, making them swifter and more efficient.
Visa is leading this innovative approach, enabling businesses to leverage stablecoins like USDC and EURC instead of conventional cash deposits in local accounts. This method treats stablecoins as 'cash in the bank', allowing businesses to dispatch payments overseas without holding substantial sums of cash beforehand.
The chief aim is to dramatically cut settlement times, converting multi-day processes into mere minutes. This quicker access to liquidity promises to greatly benefit businesses.
Visa's pilot program, utilizing stablecoins for international money transfers, is poised to modernize cross-border payments. By reducing settlement times and providing faster access to liquidity, this initiative stands to benefit businesses worldwide.
