Visa Pilots Stablecoin Payments with WeFi, Faces $200B Swipe Fee Opposition
Visa partners with crypto infrastructure firm WeFi to pilot regulated stablecoin payments across its global network, testing on-chain banking integration for everyday commerce. Separately, retail groups are opposing a proposed $200 billion interchange fee settlement, potentially heightening legal and financial risks for Visa.
1. Partnership with WeFi to Pilot Stablecoin Payments
Visa has joined forces with crypto infrastructure firm WeFi to integrate regulated stablecoins into its global payments network. The pilot will test on-chain banking capabilities, allowing users to spend stablecoin-backed balances via existing card rails while separating asset custody from payment execution.
2. Retailers Oppose $200 Billion Interchange Fee Settlement
Major retail groups have filed objections to a proposed $200 billion settlement over interchange fees with Visa and Mastercard. The challenge in federal court could delay or alter settlement terms, heightening legal and financial risks for Visa as it seeks resolution of a long-running antitrust case.