Visa said on 15 October that its stablecoin funding service for Visa Direct had moved into production, naming Inyo as its first enabler. Eligible payment businesses can use the USDC connection through an API-driven process that Visa describes as providing near-real-time funding availability.[1]
The 2025 prefunding design allowed a provider to supply stablecoins while the final recipient received local currency. The funding asset and payout currency therefore need to be specified separately.[2]
Three distinct stablecoin payment services
| Payment stage | Documented initiative | Scope |
|---|---|---|
| Provider funding | Stablecoin prefunding for Visa Direct, now in production with Inyo. | Liquidity supplied by eligible payment businesses.Source 1Source 2 |
| Recipient payout | A separate pilot announced in November 2025 for delivery to eligible stablecoin wallets. | A separate route for delivery to an eligible recipient wallet.Source 3 |
| Network settlement | USDC settlement for eligible US card-network participants announced in December 2025. | Settlement between participating card-network institutions.Source 4 |
Where the operational benefit arises
Prefunding puts liquidity into the payment service before or as instructions are processed. A provider facing a closed bank-processing window could use an available stablecoin route to replenish funds, while the receiving institution would still apply its own hours, checks and release process. This is an illustration of the payment stages, not a measured outcome for the Inyo route.
Eligibility and geography determine access. Visa Direct’s wider reach of more than 180 countries is a network statistic, not the availability map for this USDC service. The production announcement did not disclose route volumes or a complete customer cost comparison.[1]
Compare the whole funding cycle
A like-for-like cost assessment would include acquiring the stablecoin, conversion, custody or wallet services, transaction processing, compliance and final payout charges for the same corridor. Inyo supplies a named production route; the commercial terms for an individual provider determine its cost.[1]
The immediate change is an additional means of funding payment liquidity. Whether a beneficiary receives local money or a stablecoin follows the separately selected payout service.[1][2][3]
Sources & further reading
- Visa Direct Launches Stablecoin-Powered Money Movement as Pilots Move to Production Visa · 15 Oct 2026 · Accessed 20 Oct 2026
- Visa Direct Taps Stablecoins to Unlock Faster Funding for Businesses Visa · Accessed 20 Oct 2026
- Visa Direct stablecoin payouts pilot Visa · 12 Nov 2025 · Accessed 20 Oct 2026
- Visa launches stablecoin settlement in the United States Visa · 16 Dec 2025 · Accessed 20 Oct 2026