Stablecoins are rapidly emerging as a serious competitor to traditional payment networks like Visa. Over the past month, the 30-day average stablecoin transaction volume has quietly surpassed Visa’s, signaling growing adoption of crypto payments and on-chain dollars.

Visa announced a new Visa Direct pilot that lets businesses fund payouts in fiat while recipients opt to receive funds in USD-backed stablecoins like USDC, enabling near-instant, borderless transfers to on-chain wallets. Revealed at Web Summit and expanded from a SIBOS 2025 pilot, the initiative targets faster, more flexible cross-border payments and financial inclusion in regions with currency volatility or limited banking access.