Visa is set to pilot a stablecoin prefunding program for its cross-border payments network, Visa Direct, marking another step in the payment giant’s push into digital assets. The pilot will allow companies to move funds internationally in real time—even when banks are closed—using stablecoins to pre-fund accounts.
The initiative comes as payment companies race to identify practical use cases for stablecoins following the passage of the GENIUS Act. Cross-border payments, in particular, have emerged as a leading area for early adoption.
“What we’re doing here is showing the world how stablecoins and the technology can help modernize our existing infrastructure and payment methods,” said Mark Nelsen, head of product at Visa Commercial and Money Movement Solutions. “We didn’t change our payment network—it still functions as usual.”
Visa is positioning Visa Direct as a hub for processing third-party tokens while adhering to its existing rules, policies, and network procedures, according to Richard Crone, CEO of Crone Consulting. “Visa is not issuing its own stablecoin, nor any co-branded stablecoin,” he said. “The release confirms support for third-party tokens only, including PayPal’s PYUSD and any approved issuer that can pre-fund Visa Direct.”
Visa Direct already processed 10 billion transactions in 2024, reaching 11 billion endpoints—including 3.5 billion bank accounts, 4 billion cards, and 3.5 billion wallets.
How the Prefunding Pilot Works
The pilot allows companies to send money overseas using stablecoins instead of maintaining pre-funded local bank accounts. For instance, a rideshare company paying drivers in another country over a weekend previously had to park several days’ worth of funds in a bank. If funds ran low, topping up was impossible until banks reopened.
With Visa’s stablecoin pilot, companies can send stablecoins at any time, and Visa immediately recognizes the transfer and updates account balances, allowing payments to continue without delay. While payouts are made in local fiat, stablecoins enable faster liquidity since crypto exchanges operate 24/7. Visa intends to support any stablecoin that is valid and has significant trading volume.
Potential Use Cases
Initially, the pilot will focus on large remitters, but Visa sees additional applications. Nelsen highlighted possibilities for consumer wallets linked to Visa debit cards, enabling stablecoin funds to be spent at any merchant accepting Visa.
B2B accounts payable represents another major opportunity, according to Crone. Visa Direct’s speed and reach make it ideal for cross-border payouts, though approval workflows and invoice reconciliation require separate integrations with ERP and accounts payable systems. The global market for B2B payments is estimated at $120 trillion to $140 trillion, with $32 trillion to $40 trillion in cross-border transactions alone.
Regulatory clarity remains a key hurdle. “A handful of countries now have frameworks similar to the GENIUS Act,” Nelsen said. “As global licensing standards become more uniform, adoption of stablecoin payouts is expected to accelerate.”
The pilot is expected to roll out on a limited basis in April 2026, giving companies a first glimpse of how stablecoins can improve cross-border payment efficiency and liquidity.
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