Now digital platforms like TikTok and Uber can send dollar payments directly to users in developing countries. Instead of waiting days for traditional transfers, recipients can receive their funds within minutes through Visa Direct — the company’s real-time payment network.
According to Bloomberg, Visa built the system in partnership with Circle, the issuer of USDC — a stablecoin pegged one-to-one to the U.S. dollar. The goal is to give people in countries with unstable currencies or weak banking systems faster access to digital dollars, without conversion fees or long delays.
Chris Newkirk, Visa’s President of Commercial and Money Movement Solutions, said the mission is simple: “to make access to money as fast and universal as the internet itself.” He added that the pilot marks a move toward a world where payments flow freely — without intermediaries or banking restrictions.
Stablecoins Go Mainstream
The initiative represents a major milestone for stablecoins, which have mostly been used for trading or interbank settlements. Using USDC for everyday payments shows that stable tokens can become real tools for global finance.
For platforms, the benefits are clear: freelancers and creators receive U.S.-denominated income without worrying about local currency swings or high transfer fees. Businesses gain flexibility by using a digital token that moves across borders without relying on legacy banking rails.
According to the Visa Creator Report, more than 50% of creators prefer instant digital payments over traditional bank transfers. For many, access to a stable digital dollar is essential — especially in countries where U.S. currency is hard to obtain.
Visa highlights three core advantages of the new system: faster settlements, stable dollar value, and full transparency through blockchain records that are visible to both parties.
Building a Hybrid Financial Network
The new model doesn’t replace Visa’s existing infrastructure — it expands it. By adding stablecoin functionality to Visa Direct, the company is bridging traditional finance and Web3 infrastructure.
The project reflects a broader global shift, as major payment providers begin adopting blockchain for real-world business use. However, it still requires regulatory clearance: in many jurisdictions, rules for stablecoin reserves, licensing, and redemption are still being developed.
Experts note that Visa’s initiative is not only about adoption but also about testing blockchain’s practical limits. If successful, the pilot could transform global payments — making them faster, cheaper, and more accessible for millions of workers worldwide.