Visa has announced a new service enabling stablecoin payments for everyday purchases in six Latin American countries, including Mexico and Argentina. This initiative aims to simplify transactions using digital assets for both consumers and merchants.
The service allows individuals to receive payments in stablecoins, such as USDC, and use Visa-branded cards for purchases. Merchants will receive payments in their local currency, streamlining the transaction process. Visa's senior vice president, Rubail Birwadker, noted that this offering will normalize stablecoin usage, particularly in regions seeking to hedge against economic volatility.
Visa's new service will leverage Bridge's technology, acquired by Stripe for $1.1 billion, to integrate stablecoins into financial applications. The launch is anticipated within the next few weeks, marking a significant step in making cryptocurrency a viable option for everyday transactions in emerging markets.