Visa moves deeper into stablecoins by launching new payment pilot for businesses: CNBC Crypto World

Core Insights - Cryptocurrencies are experiencing a downturn, with Bitcoin falling to around $11,000, Ether below $3,400, and XRP down by 2.34% [1][2] Regulatory Developments - The Senate Agriculture Committee has released a draft of a crypto market structure bill, providing clearer regulatory guidance for cryptocurrencies, classifying Bitcoin and Ether as digital commodities regulated by the CFTC [3][4] - The bill aims to empower the CFTC in the digital asset space, addressing the ongoing debate over whether specific tokens are securities or commodities [4] - The draft includes provisions for crypto firms to separate various affiliated businesses, reflecting the industry's anticipation for regulatory clarity amid growing institutional interest [5] Company Updates - Circle's stock dropped by 11% following its Q3 earnings report, despite profits exceeding estimates, due to an increase in expected operating expenses for 2025 [2] - JP Morgan has launched its deposit token, JPMD, on Coinbase's Ethereum layer 2 blockchain, allowing institutional clients to settle transactions 24/7 [6] Visa's Stablecoin Initiatives - Visa has introduced a pilot program enabling businesses to send payouts directly to stablecoin wallets, facilitating faster and easier money movement for freelancers and creators [9][10] - The pilot leverages Visa Direct, allowing users to receive payments in USD-backed stablecoins like USDC, enhancing real-time access to funds [11][18] - The pilot is currently available in the US, with plans for expansion to other countries in the latter half of 2026 [17] Market Trends and Future Outlook - Visa's research indicates that 57% of digital content creators prefer digital payment methods for instant access to funds, driving the company's interest in stablecoins [18][20] - The regulatory framework established by recent legislation, such as the Genius Act, is crucial for Visa's deeper engagement in the stablecoin space, allowing for compliant deployment of this technology [22][24] - Visa aims to address the needs of the underbanked population by enabling access to the digital economy through stablecoin wallets [20][21]