Editor’s Note
This pilot program by Visa represents a significant step toward integrating stablecoins into mainstream cross-border payments, specifically targeting the growing creator and freelance economy. Its success could reshape how digital workers receive and manage international earnings.
Global payments giant Visa Inc. has announced a pilot program that opens a new chapter in digital payments, allowing businesses and platforms to send fiat currency payments, with recipients receiving the funds in the form of the US dollar-backed stablecoin USDC. The program targets creators, freelancers, and gig economy workers, aiming to provide them with faster, more convenient access to borderless funds and signaling the deeper integration of blockchain technology into mainstream payment systems.
The pilot builds on Visa’s broader strategy to integrate stablecoin infrastructure into its payment systems, enabling stablecoins to serve not only as a back-end treasury management tool but also as an on-ramp for end-users. This initiative could reshape how digital marketplaces pay global workers, particularly in regions with underdeveloped banking infrastructure or volatile local currencies.
Under the pilot, merchants using Visa’s Visa Direct payment network can initiate transfers in fiat currency, while recipients have the option to receive the funds as USDC, which is deposited directly into a compatible stablecoin wallet. Visa notes that each transaction will be recorded on-chain, enhancing transparency and traceability.
Key features of the pilot include near-instant fund availability, meaning recipients no longer need to wait for bank processing, with funds arriving in their preferred stablecoin wallet within minutes. Additionally, it enables borderless value delivery, which is particularly important for creators, gig workers, and freelancers operating globally who may face currency conversion issues or delays with bank transfers.
Furthermore, using USDC for blockchain payments mitigates the risk of asset price volatility compared to cryptocurrencies like Bitcoin and Ethereum, while still benefiting from blockchain settlement. The auditability and transparency of blockchain records aid compliance and traceability, which is crucial for regulated entities expanding cryptocurrency payments.
Freelancers, digital creators, and global gig workers have long cited timely access to payments as a major hurdle, especially when using cross-border systems that are often plagued by delays, high fees, and insufficient banking coverage.
Visa’s pilot aims to directly address this gap by offering stablecoin-based payments through an established brand and payment network. The pilot could ultimately bridge the gap between traditional payment methods and cryptocurrencies, accelerating the adoption of blockchain payments. Additionally, it lowers the barrier for platforms to adopt crypto technology, eliminating the need for recipients to manage complex custody arrangements themselves.
Visa stated that a broader rollout is planned for the second half of 2026, with some partners already beginning to join this year. However, regulators and market participants will be closely watching developments. The use of stablecoins for payments raises concerns about cross-border payment regulation, Anti-Money Laundering (AML) controls, wallet management, tax reporting, and consumer protection in jurisdictions with evolving cryptocurrency laws.