The ways in which businesses finance cross-border payments are set to become faster, smarter, and more flexible. Visa has announced the launch of a pilot project for advance payments using stable cryptocurrencies through Visa Direct, enabling businesses to access a new method of global money transfer – unlocking liquidity and modernizing payment operations focused on the digital economy.
For decades, money transfers across borders have relied on slow and costly systems that pre-block capital. Through this pilot project, Visa Direct is testing stable cryptocurrencies as a new source of funding. The goal: to reduce friction, enable liquidity, and provide financial institutions with greater flexibility in managing global payment methods.
“International payments have been trapped in outdated systems for too long,” said Chris Newkirk, President of Commercial and Payment Solutions at Visa, adding that the new integration of stable cryptocurrencies into Visa Direct lays the groundwork for instant money transfers worldwide, providing businesses with more choices in payment methods.
Why This Matters
- Unlocked Liquidity: Advance payments using stable cryptocurrencies free businesses from the need to hold large amounts in fiat currencies in advance, allowing capital to remain active while simultaneously securing funds for payouts.
- Modernized Treasury: Institutions can move money in a timeframe measured in minutes rather than days, making liquidity management more dynamic and adaptable.
- Predictability: Stable cryptocurrencies provide a consistent method for settling transactions, reducing exposure to the volatility of local currencies and stabilizing treasury operations.
How the Pilot Project Works
