Visa has moved its stablecoin-enabled money movement service from pilot testing to commercial deployment through Visa Direct.
As part of the initial rollout, payments infrastructure provider Inyo Global became the first enabler to launch the service for eligible Visa Direct clients and partners.
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In a statement, Visa described the move as an “important step” toward bringing stablecoin-enabled money movement into commercial operations.
The rollout follows a year of work by Visa Direct with clients and partners to assess how stablecoins could support the funding and movement of money across borders.
Through the new service, businesses using Inyo Global’s platform can prefund cross-border payouts through Visa Direct with USDC in near real time. The capability provides an alternative to traditional funding windows.
Inyo Global provides payments infrastructure for money transmitters, fintech companies, banks, and other payment businesses. Its platform will support user onboarding, fraud management, compliance, payment acceptance, and domestic and international payouts across more than 180 countries through Visa Direct.
Visa Direct global head Vira Platonova said: “Over the last several years, we’ve worked with several partners and clients to explore how these technologies can improve money movement.
“We’re now seeing those efforts translate into live implementations, helping businesses access more flexible and efficient ways to fund and move money globally through Visa Direct, starting with Inyo Global as our first enabler.”
Inyo Global co-founder and chief product and technology officer Robson Dantas said: “Innovation in money movement is ultimately about creating a better experience for customers, and that’s exactly our focus at Inyo.
“By integrating Visa Direct’s stablecoin-enabled prefunding into the Inyo platform, we’re giving the money transmitters, fintechs and payment companies we serve a new way to fund their payouts, one that is available around the clock and runs through the same Inyo APIs they already use.”
The partnership forms part of Visa’s broader initiative to connect traditional payment rails with blockchain-based networks.
Earlier this month, digital asset platform Gate partnered with Visa to introduce a cryptocurrency-linked payment card across more than 40 countries.
