Payments giant Visa and remittance leader Western Union are significantly expanding their embrace of digital assets, announcing separate initiatives to leverage stablecoins for faster, cheaper cross-border money movement.
At the Web Summit in Lisbon on Wednesday, Visa announced a pilot program enabling businesses in the U.S. to use its Visa Direct service to fund cross-border payouts that recipients can receive in USDC (USD Coin).
The initiative is designed to offer near-instant access to funds, reducing reliance on traditional banking infrastructure, especially in emerging markets facing currency volatility or limited banking access.
“Launching stablecoin payouts is about enabling truly universal access to money in minutes—not days—for anyone, anywhere in the world,” said Chris Newkirk, Visa’s President of Commercial & Money Movement Solutions.
This latest move builds on Visa’s earlier effort allowing businesses to pre-fund payouts using stablecoins. Recipients must hold a compatible stablecoin wallet and pass standard KYC/AML checks. The pilot currently supports only USDC, with a broader rollout anticipated in the second half of 2026 pending regulatory clarity.
Visa’s expansion into digital assets has accelerated throughout 2025, having processed over $140 billion in crypto and stablecoin transactions since 2020. This focus is driven by consumer demand, as Visa’s 2025 Creator Economy Report noted that 57% of digital creators prioritize “instant access to funds.”
Western Union Bets on Solana for Dollar-Backed Token
Western Union, meanwhile, is launching its own dollar-backed stablecoin. The company plans to introduce the US Dollar Payment Token (USDPT) on the Solana blockchain in the first half of 2026.
Issued by Anchorage Digital Bank, the token is aimed at simplifying money transfers globally with lower fees and faster settlement times, directly challenging reliance on traditional banking intermediaries and volatile currency conversions.
CEO Devin McGranahan framed the move as a continuation of the company’s 175-year mission to simplify money movement, noting that Solana was chosen for its speed, scalability, and low transaction costs—features essential for its high-volume remittance business.
By leveraging blockchain rails, both Western Union and Visa are aiming to transform the multi-trillion-dollar cross-border payments market, offering faster, transparent alternatives to legacy payment systems.
