Yesterday, Beijing time, Visa Direct moved stablecoin prefunding from pilot to full launch. Inyo is the first to connect to the production environment, and eligible customers can use $USDC to prefund cross-border payouts almost instantly.
$USDC is a dollar-backed stablecoin issued by Circle. Each coin is worth roughly one U.S. dollar, and it is often used as a settlement unit for on-chain and cross-border payments.
Previously, cross-border payouts were generally constrained by traditional banks’ funding windows. Now Inyo has integrated this capability into its platform, allowing customers to use the same API to prefund with USDC and then send the funds through Visa Direct.
According to the announcement, connecting Inyo’s service to Visa Direct will enable domestic and international payouts to reach more than 180 countries.
Visa says it began piloting prefunding and payouts last year. This launch effectively turns stablecoins from something to “try out” into part of a major payments company’s day-to-day treasury operations, with plans to expand into more money movement scenarios.
$USDC is a dollar-backed stablecoin issued by Circle. Each coin is worth roughly one U.S. dollar, and it is often used as a settlement unit for on-chain and cross-border payments.
Previously, cross-border payouts were generally constrained by traditional banks’ funding windows. Now Inyo has integrated this capability into its platform, allowing customers to use the same API to prefund with USDC and then send the funds through Visa Direct.
According to the announcement, connecting Inyo’s service to Visa Direct will enable domestic and international payouts to reach more than 180 countries.
Visa says it began piloting prefunding and payouts last year. This launch effectively turns stablecoins from something to “try out” into part of a major payments company’s day-to-day treasury operations, with plans to expand into more money movement scenarios.