Visa pilots stablecoin payouts for global freelancers
Visa has launched a stablecoin payout pilot enabling businesses to pay global freelancers in USDC via blockchain networks. The pilot, part of Visa’s Crypto API, uses on-chain settlement on Solana to speed cross-border payments and cut foreign-exchange fees. Participating firms can initiate stablecoin payouts directly through Visa’s platform and partner crypto firms. The initial rollout in Argentina aims to test real-world efficiencies. By integrating stablecoin payouts, Visa is positioning its network to support faster, cheaper international payroll for freelancers. If successful, the program will expand to additional markets late 2024. The move underscores growing adoption of stablecoin payout solutions and strengthens blockchain’s role in global payments.
Bullish
Visa’s stablecoin payout pilot marks a significant step in mainstream adoption of blockchain-based payments. Similar moves by PayPal and Mastercard to integrate crypto rails in 2020-22 led to higher on-chain transaction volumes and improved market sentiment. In the short term, the pilot may boost demand for USDC and increase transaction activity on Solana, supporting trading volumes. Over the long term, this development could drive broader stablecoin usage in global payroll, enhance on-chain liquidity, and encourage more enterprises to adopt blockchain payment solutions—factors that collectively support a bullish outlook for stablecoins and associated networks.