Visa (V) begins a refining pilot for Use StableCoins through Visa Direct, its real -time payment platform.
Companies would now be able to move money across borders free of the requirement to park large Fiat in balance in advance, Visa announced on Tuesday.
“The target: Reduce friction, lock faster access to liquidity and give financial institutions more flexibility in how to manage global payments,” the payment giant said.
Companies would pre-order their Visa Direct account with stableecoins instead of Fiat, which Visa would count as “money in the bank”, which means the funds would be available for the payment.
Visa, like several of their peers in traditional financial (tradfi) payments, has accelerated its plans in stableecoins -crypto -tokens, which is linked to the value of a tradfi asset, such as AA Fiat currency.
They have caught the increased interest in their use as major jurisdictions have introduced formal regulatory regimes that oversee stablecoins.
