ME News reports that on August 5 (UTC+8), Visa announced a partnership with on-chain infrastructure provider Zerohash to introduce stablecoin functionality within the Visa Direct platform. Eligible customers will be able to pre-fund merchant accounts and conduct fund transfers and payments using stablecoins. Visa Direct currently connects over 195 countries and regions worldwide, with more than 18 billion endpoints including debit and credit cards, bank accounts, and digital wallets. This integration aims to enhance fund allocation efficiency, settlement flexibility, and speed of settlement in cross-border payments. Zerohash will provide the underlying technology and compliance support. The company previously became the first entity in Europe to receive authorization and obtain an electronic money institution license under the Markets in Crypto-Assets Regulation (MiCA) framework. (Source: BlockBeats)
Visa Partners with Zerohash to Integrate Stablecoin Functionality on the Visa Direct Platform
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Summary
Visa has partnered with Zerohash to integrate stablecoin functionality into its Visa Direct platform, in alignment with ongoing stablecoin regulatory initiatives. Eligible users can now pre-fund merchant accounts with stablecoins for payments and transfers. The platform connects over 180 billion endpoints globally, aiming to enhance cross-border efficiency. Zerohash, licensed under the EU’s MiCA framework, will manage compliance and infrastructure. This move supports the broader adoption of risk-on assets within financial systems.
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