Crypto: Visa Takes Stablecoin Payments to the Next Level

Visa moves stablecoins from the lab to commercial operations. The payment giant has just put Visa Direct’s stablecoin capabilities into production with Inyo Global. Eligible businesses will notably be able to use USDC to pre-finance their cross-border payments 24/7. The change comes as Visa’s stablecoin settlements now exceed an annualized pace of $20 billion.

Visa puts stablecoins at the heart of Visa Direct

The change was officialized on October 15. Inyo Global becomes the first processor to put Visa Direct’s stablecoin pre-financing into production. The company already provides payment infrastructure to fintechs, banks, and money transfer companies in a network covering over 180 countries.

Its eligible clients can now use crypto (USDC) to finance their Visa Direct operations. The principle addresses a very concrete problem. To ensure international payments, companies often have to immobilize funds in advance on different bank accounts. Opening hours and weekends can also delay their ability to fund these accounts.

With USDC, financing can work 24/7. Visa had started testing this model of stablecoin payments in the United States as early as 2025. The program was supposed to be expanded in 2026.

This step has arrived. The final beneficiary is not necessarily paid in crypto. Visa Direct still allows converting funds and paying out in local currency. The stablecoin mainly operates in the infrastructure behind the payment.

From $7 to $20 billion in a few months

Visa is not starting from zero anymore. In April, its stablecoin settlement program reached around $7 billion annualized. The group had then added five additional blockchains to its infrastructure.

A few months later, the figure exceeds $20 billion. Visa talks about a multiplication greater than fifteen times year-over-year. The group also counts more than 160 card programs linked to stablecoins. The payment volumes achieved with these programs increased by nearly 200% year-over-year in the second fiscal quarter.

The trend goes beyond just experimentation with Inyo. In July, Visa was already testing stablecoins with M-Pesa and Onafriq in the DRC. The goal was also to simplify settling cross-border payments without necessarily changing the end-user experience.

At the beginning of October, Visa also indicated that almost 17% of the volume of its stablecoin-linked cards now came from programs aimed at businesses. Stablecoins are gradually moving out of the crypto-only market. They are becoming a treasury tool.

Visa does not replace banks with USDC

Commercial deployment does not mean that Visa is abandoning traditional rails. Its model remains hybrid. Stablecoins serve where they can reduce delays or avoid immobilizing too much liquidity. The Visa Direct network then continues to connect cards, bank accounts, wallets, and local currencies.

This is indeed the stance Visa has defended for several months: the stablecoin does not necessarily have to replace traditional currency. It can become an additional layer to move money between different infrastructures.

The evolution is particularly visible in card payments. USDC and USDT already represent 84% of expenses made with certain crypto cards. Visa now has another field: financing international payments themselves. Inyo Global opens the first commercial door. Other processors can follow. The pilot phase is over for this part of the system. Stablecoins enter production.

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