Visa Revolutionizes Cross-Border Payments with USDC Stablecoin Integration
Visa has unveiled an innovative payment solution at the Web Summit in Lisbon, empowering freelancers and digital service providers to receive instant cross-border payments through dollar-pegged stablecoins like USDC. This pilot program eliminates traditional banking delays by enabling businesses to send fiat while recipients receive funds directly into their crypto wallets within seconds.
The system specifically addresses challenges faced by gig economy workers dealing with sluggish international transfers. By settling transactions on public blockchains, Visa enhances transparency and accelerates cash flow. "This isn't just about faster payments—it's financial inclusion at internet speed," stated Chris Newkirk from Visa's Money Movement Solutions, highlighting the system's potential to serve unbanked populations worldwide.
