Visa is expanding its stablecoin payment offerings through an arrangement with crypto infrastructure provider Zerohash, allowing eligible Visa Direct clients to prefund accounts and send payouts using stablecoins.
"Unlocking stablecoin use cases at the core network level further accelerates adoption globally," Zerohash founder and CEO Edward Woodford said in a statement.
The integration lets businesses fund Visa Direct accounts with stablecoins before making payments, allowing them to manage liquidity outside traditional banking hours. Recipients can also receive payouts directly in stablecoins rather than local currency.
The announcement is the latest move by Visa into the stablecoin industry.
"Stablecoins are creating new opportunities to make money movement faster and more flexible, particularly for cross-border use cases," Mark Nelsen, Visa's global head of product, said in a statement. "Working with zerohash helps us bring stablecoin capabilities to our clients at scale, in a way that’s reliable and interoperable with the financial systems they already rely on today.”
