Visa Tests Stablecoin Payouts to Speed Payments for Creators, Gig Workers

Core Viewpoint - Visa is testing a system that allows businesses to send payments directly to stablecoin wallets, enhancing payment efficiency for creators, freelancers, and gig workers, particularly in cross-border scenarios [1][2]. Group 1: Payment System Overview - The new payment system enables funds to be delivered in dollar-backed stablecoins, such as USDC from Circle Internet [1]. - The pilot program allows businesses to fund payouts in fiat currency, while recipients can opt to receive payments in stablecoins [2]. Group 2: Target Audience and Benefits - The initiative specifically targets creators, freelancers, and gig workers who often experience delays in accessing their pay, especially when working internationally [2]. - Visa emphasizes that this move expands access to money for individuals in countries with unstable currencies or limited banking infrastructure [3]. Group 3: Transparency and Recordkeeping - Transactions conducted through this system are recorded on public blockchains, which enhances transparency and simplifies recordkeeping [3]. Group 4: Future Plans and Vision - Chris Newkirk, president of Commercial & Money Movement Solutions at Visa, stated that the goal is to enable universal access to money quickly, benefiting various stakeholders including creators and businesses [4]. - Visa plans to roll out this system more broadly in 2026, contingent on evolving regulatory frameworks and increasing client demand [5].