Visa has officially introduced a new pilot program designed to pay gig workers using dollar-backed stablecoins—marking another major step in the company’s push into digital assets.
The initiative allows online marketplaces to send payments directly to U.S. recipients’ stablecoin wallets, using assets like Circle’s USDC.
“Stablecoin payouts are about giving anyone, anywhere, access to their money in minutes rather than days,” said Chris Newkirk, Visa’s president of commercial and money movement solutions.
The program operates through Visa Direct—the company’s fast-transfer service that taps into Visa’s massive global network to deliver funds in 30 minutes or less. Visa first enabled stablecoin functionality on the platform in September.
Visa Deepens Its Crypto Strategy
With over 4 billion account holders and more than 130 million merchants in its network, Visa has been steadily adopting blockchain-powered tools to upgrade its offerings.
Earlier this year, the company partnered with Bridge, a stablecoin infrastructure provider, to allow fintech platforms to issue Visa cards connected directly to stablecoin balances. Bridge was acquired by Stripe in February for $1.1 billion.
In July, Visa also announced a collaboration with Paxos — the New York–based issuer behind PayPal’s PYUSD — integrating both PYUSD and USDG, a digital dollar created by companies including Robinhood and Kraken.
“We see trusted, scalable, and interoperable stablecoins as a transformative force for global money movement,” said Rubail Birwadker, Visa’s head of growth products and partnerships.
Meanwhile, Mastercard — Visa’s fiercest competitor — is advancing down a similar path, forming its own partnerships with crypto players such as Ripple, Ondo Finance, Kraken, and Fiserv.
Crypto Clarity
Visa and Mastercard’s growing commitment to crypto and stablecoins comes at a time when the U.S. government — under President Donald Trump — is pushing forward legislation that gives businesses clearer rules for engaging with blockchain technology and stablecoins.
In July, lawmakers approved a bill outlining who can legally issue stablecoins in the U.S. and under what regulatory conditions. The move has encouraged traditional banks, fintech companies, and major payment networks like Visa and Mastercard to lean deeper into the crypto ecosystem.
Vijit Katta, CEO and co-founder of crypto neobank Tria, told DL News in November that Visa has recently updated its internal rules to better align blockchain systems with its existing payment infrastructure.
“What we’re doing now simply wouldn’t have been possible two years ago,” Katta said. “The technical flexibility Visa has introduced has completely changed what a self-custodial neobank can achieve.”
Visa is actively onboarding new partners as part of its stablecoin expansion through Visa Direct, with a broader global rollout expected next year.
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