Visa Integrates USDT and USDC for Faster Cross-Border Payments
V•Visa has begun integrating USDT and USDC stablecoins for cross-border payments, aiming to improve transfer speed and reduce fees. This shift positions Visa to compete directly with remittance platforms like Remitly, whose user base expanded from 2.8M to 9.3M and revenue jumped to $1.64B.
1. Visa Launches Stablecoin Payments
Visa has initiated support for USDT and USDC stablecoins in its cross-border payments network, aiming to reduce settlement times to minutes and lower transaction costs. This integration leverages blockchain rails alongside VisaNet, positioning the company to streamline international transfers for institutional and retail clients.
2. Impact on Remittance Market
By offering stablecoin-based transfers, Visa targets a segment currently served by digital remittance platforms such as Remitly, which reported a user base increase from 2.8 million to 9.3 million and revenue growth to $1.64 billion. The move could capture market share by undercutting fees and offering near-instant settlement, challenging specialist providers.
