Visa Pioneers USDC-Powered Instant Payouts for Global Freelancers and Gig Workers

Visa has launched a groundbreaking pilot program enabling direct payouts in Circle’s USDC stablecoin, specifically designed for freelancers, creators, and gig workers worldwide. Announced at the Web Summit in Lisbon, this initiative utilizes Visa Direct to facilitate near-instant cross-border transactions, effectively bypassing traditional banking delays.

Emerging markets are poised to benefit significantly, as the program tackles currency volatility and limited access to banking services. "Introducing stablecoin payouts is about delivering universal access to money in minutes — not days," stated Chris Newkirk, Visa’s President of Commercial & Money Movement Solutions. This development builds on Visa's substantial $140 billion crypto transaction volume since 2020.

To receive USDC, recipients must have compatible digital wallets, highlighting another strategic step in integrating blockchain technology into mainstream payment systems. This follows Visa's expanding crypto initiatives, including previous merchant settlement trials with USDC.