Overview
- A partnership announced Tuesday between Visa and WeFi will test letting people pay with stablecoins through Visa’s network.
- The pilot is designed to let users spend from self-custody wallets, with Visa handling conversion and settlement so checkout works like a normal card payment.
- The first phase targets selected markets in Europe, Asia, and Latin America, with expansion tied to local approvals and issuing-bank agreements.
- The effort centers on regulated stablecoins built for everyday purchases, and WeFi says it will add IBAN-style account numbers as it secures licenses.
- Linking stablecoin balances to card rails could cut banks’ foreign-exchange and cross-border settlement fees, a shift analysts say depends on adoption and regulation.