Visa Tests Pre-Funded Stablecoins for Cross-Border Payments

Visa Inc. is testing a pilot program that gives financial institutions, banks and remittances providers the option of using pre-funded stablecoins to make cross-boarder payments faster and more flexible without users having to tie up cash for extended periods of time.

Visa Direct, the payment network’s real-time platform, will use Circle Internet Group Inc.’s USC dollar and EURC euro-backed stablecoins for the pilot. A representative of Circle didn’t reply to a request for comment.

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The Visa program has the potential to eliminate a worst case scenario for ...