Visa is rolling out a pilot initiative in the United States that enables businesses to send payments in dollar-backed stablecoins from accounts funded in fiat currency. The system is aimed in particular at freelance platforms and gig-economy activities.
The concept behind the program
Thanks to this pilot, Visa’s business clients can continue using traditional accounts denominated in U.S. dollars to fund payments. However, the final recipient can choose to receive their funds in the form of a stablecoin (for example, one pegged to the dollar) directly in their digital wallet.
The message from Visa reads: “Launching stablecoin payments means enabling universal access to money in minutes, not days.”
Why target freelancers and the gig economy?
Workers in the gig economy (freelancers, content creators, distribution platforms) represent a segment where payment speed and access to stable funds are essential. An internal survey by Visa indicates that 57% of freelancers prefer digital payment methods for faster access to funds.
Moreover, in countries or regions where access to banking services is limited, receiving funds via a stablecoin wallet can prove more efficient than waiting for a traditional bank transfer.
The technological and regulatory background
This pilot builds on the ongoing efforts of Visa to integrate blockchain technology and digital assets into its payment services. It also relies on a U.S. regulatory environment that is becoming clearer for stablecoins, making large-scale experimentation easier.
The funds are still supplied in fiat currency by the company, but the final transfer is made in a stable digital token, which reduces delays and friction.
Implications and challenges
Advantages:
- Faster, nearly instant payments for recipients.
- Reduced delays and fees associated with international transfers.
- Improved financial inclusion in underbanked regions.
Challenges:
- Recipients must have a compatible wallet; KYC/AML compliance remains necessary.
- The regulatory framework for stablecoins may still evolve, introducing uncertainty.
- Companies must adapt their infrastructure to integrate this new payment method.
Conclusion
The pilot launched by Visa marks an important step in the convergence between traditional finance and blockchain technology. By allowing companies to fund payments in dollars while enabling workers to receive funds via stablecoins, the system opens new avenues for the freelance and cross-border economy. It remains to be seen how this model will be deployed on a larger scale and whether it will become a standard in digital payments.
