BVNK will provide stablecoin infrastructure for Visa Direct pilot programs, enabling stablecoin pre‑funding and payouts.
BVNK and Visa announce a strategic partnership on 14 January in San Francisco under which BVNK will power stablecoin payments for Visa Direct, Visa’s $1.7 trillion money‑movement network, supporting stablecoin pre‑funding and payouts to recipients’ wallets in select approved markets. BVNK, which processes over $30 billion in stablecoin payments annually, will enable certain business customers to fund Visa Direct payouts with stablecoins and deliver payouts in stablecoins where permitted.
The pilot focuses initially on markets with strong demand for digital‑asset payments with wider rollout based on customer needs, and Visa says the move aims to reduce friction and expand access to faster payments when banks are closed; Mark Nelsen, Global Head of Product, Commercial & Money Movement Solutions at Visa, states, “ Stablecoins are an exciting opportunity for global payments.” Availability is limited to approved jurisdictions and will expand subject to regulatory and commercial considerations.
Read More:Visa Backs BVNK in Strategic Move to Boost Stablecoin Payment Networks
🧭 FAQs
• What will BVNK provide for Visa Direct in the U.S.? BVNK supplies stablecoin infrastructure enabling pre‑funding and payouts in approved U.S. markets.
• How large is Visa Direct’s payment network globally? Visa Direct moves $1.7 trillion through its money‑movement network globally.
• How much stablecoinvolume does BVNK process annually? BVNK processes over $30 billion in stablecoin payments each year.
• Where will the stablecoin pilots roll out first? Pilots will start in markets with strong demand for digital‑asset payments and then expand globally.