Visa Bolsters Stablecoin Payment Infrastructure Through Partnership With Zerohash

Visa is expanding its stablecoin payment infrastructure through a partnership with crypto infrastructure provider Zerohash.

Eligible Visa Direct customers can now preload balances in stablecoins and use them to process cross-border payments, allowing companies to manage liquidity without being tied to bank operating hours.

The added feature also enables recipients to be paid directly in stablecoins instead of local currency, according to Zerohash's founder and CEO Edward Woodford, who said that expanding stablecoin use cases will accelerate adoption worldwide further.

This move extends Visa's push to expand its stablecoin business, which began with a pilot service with BVNK in January to offer stablecoin prefunding and payouts on Visa Direct. In July, it launched the Visa Stablecoin Platform to help banks and fintech companies issue, hold, and transfer stablecoins.

Mark Nelson, head of global products at Visa, noted that stablecoins are creating opportunities for faster and more flexible cross-border transactions.