Visa Launches Pilot for Direct Stablecoin Payments to Creators and Freelancers

Visa Launches Pilot for Direct Stablecoin Payments to Creators and Freelancers

Visa is piloting a stablecoin payout service via Visa Direct, enabling creators and gig workers to receive USD-pegged tokens within minutes for faster cross-border payments.

USDC

Fact Check
The assessment is "likely_true" with high confidence based on overwhelming and consistent evidence from high-authority primary sources. The official press release from Visa itself, available on its investor website and distributed by press wire services, directly announces the launch of the "Visa Direct Stablecoin Payouts" pilot program. These primary sources explicitly state that the program is designed to facilitate faster payments to "Creators & Gig Workers" using stablecoins like USDC. The statement is further corroborated by a press release from Nium, a payments company identified as a participant in the pilot, which confirms its role in paying content creators. All relevant secondary sources are consistent with this information, reporting on the same pilot program. There is no conflicting evidence among the provided sources. The statement is a direct and accurate summary of the information presented in the primary documents.
Summary

Visa announced the pilot launch of a stablecoin payment service on February 12, enabling businesses to pay creators and gig workers in USDC or other USD-pegged stablecoins via Visa Direct. Payers send fiat currency, which is converted into stablecoins for recipients, with transfers completed within minutes. The service aims to accelerate cross-border transactions and provide a digital alternative to traditional bank payouts, expanding on Visa’s earlier September trial.

Terms & Concepts
  • Stablecoin: A type of cryptocurrency pegged to a stable asset such as the US dollar, used to reduce price volatility.
  • USDC: A dollar-backed stablecoin issued by Circle, designed to maintain a 1:1 value with the US dollar.
  • Visa Direct: A real-time payments platform from Visa that enables direct and fast transfers to recipients without needing a traditional bank account.