Visa pilots stablecoins to speed up creator and freelancer payouts
Visa sees a significant opportunity in the creator economy, which is projected to reach $500 billion by 2027, according to the payment giant.
Visa is piloting a stablecoin-based payments program aimed at speeding up global payouts for freelancers, creators and businesses, as the line between traditional and decentralized finance (DeFi) continues to blur.
The payments giant announced Wednesday that it will expand Visa Direct to include stablecoin payouts, allowing users to receive funds directly into digital wallets instead of waiting days for transfers to bank accounts or cards.
“Launching stablecoin payouts is about enabling truly universal access to money in minutes – not days – for anyone, anywhere in the world,” said Chris Newkirk, president, commercial & money movement solutions at Visa.