Visa is expanding stablecoin functionality on its Visa Direct platform through a new collaboration with onchain infrastructure provider zerohash.
Eligible Visa Direct clients will soon be able to prefund merchant accounts and send payouts using stablecoins, with zerohash supplying the underlying technology and regulatory support, according to a press release on Wednesday.
Visa Direct reportedly connects to more than 18 billion endpoints — including cards, bank accounts, and digital wallets — across over 195 countries and territories, according to the announcement.
"Stablecoins are creating new opportunities to make money movement faster and more flexible, particularly for cross-border use cases," Global Head of Product at Visa Mark Nelsen 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." The integration is intended to give businesses greater flexibility in managing liquidity and settling transactions around the clock, particularly for cross-border activity, while allowing recipients to receive funds directly in stablecoins for faster access.
