Visa is moving stablecoins from the laboratory to commercial operations. The payments giant has just put Visa Direct’s stablecoin capabilities into production with Inyo Global. Notably, eligible businesses will be able to use USDC to pre-fund their cross-border payments 24 hours a day. The change comes as Visa’s stablecoin settlements now exceed an annualized rate of $20 billion.
In brief
- Visa Direct is officially moving from pilot to commercial deployment.
- Inyo Global becomes the first player to offer pre-financing in USDC.
- Visa stablecoin settlements exceed $20 billion annualized.
Visa puts stablecoins at the heart of Visa Direct
The change was made official on October 15. Inyo Global becomes the first processor to put Visa Direct stablecoin pre-funding into production. The company already provides payment infrastructure to fintechs, banks and money transfer companies in a network spanning more than 180 countries.
Its eligible customers can now use crypto (USDC) to fund their Visa Direct transactions. The principle responds to a very concrete problem. To ensure international payments, businesses often need to secure funds in advance in different bank accounts. Business hours and weekends may also delay their ability to fund these accounts.
With USDC, financing can operate 24 hours a day. Visa had started testing this model of stablecoin payments in the United States in 2025. The program was to be expanded in 2026.
This stage has arrived. The final beneficiary is not necessarily paid in crypto. Visa Direct still allows funds to be converted and deposited in local currency. The stablecoin mainly intervenes in the infrastructure behind the payment.
From 7 to 20 billion dollars in a few months
Visa no longer starts from scratch. As of April, its stablecoin settlement program reached approximately $7 billion at an annualized rate. The group then added five additional blockchains to its infrastructure.
A few months later, the figure exceeded $20 billion. Visa speaks of a multiplication of more than fifteen over one year. The group also has more than 160 stablecoin-related card programs. Payment volumes made with these programs increased by almost 200% year-on-year in the second fiscal quarter.
The trend therefore goes beyond just experimentation with Inyo. In July, Visa was already testing stablecoins with M-Pesa and Onafriq in the DRC. The objective here too was to simplify the settlement of cross-border payments without necessarily changing the end user experience.
At the beginning of October, Visa also indicated that nearly 17% of the volume of its stablecoin-related cards now came from programs intended for businesses. Stablecoins are gradually leaving the crypto market alone. They become a cash flow tool.
Visa does not replace banks with USDC
Commercial deployment does not mean that Visa is abandoning traditional rails. Its model remains hybrid. Stablecoins are used where they can reduce delays or avoid tying up too much liquidity. The Visa Direct network then continues to connect cards, bank accounts, wallets and local currencies.
This is also the line defended by Visa for several months: the stablecoin should not necessarily replace traditional currency. It can become an additional layer to move money between different infrastructures.
The development is particularly visible in card payments. USDC and USDT already represent 84% of spending with certain crypto cards. Visa now has another field: financing international payments themselves. Inyo Global opens the first commercial door. Other processors may follow. The driver is complete for this part of the system. Stablecoins are entering production.
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