Visa Partners with Zerohash to Expand Visa Direct Stablecoin Payment Capabilities

TechFlow News, August 5, according to The Block, Visa announced a partnership with on-chain infrastructure provider ZeroHash to introduce stablecoin functionality on the Visa Direct platform. Eligible customers will be able to use stablecoins to pre-fund merchant accounts and conduct fund transfers and payments via stablecoins.

Visa Direct currently connects more than 195 countries and regions worldwide, with over 18 billion endpoints, covering bank cards, bank accounts, and digital wallets. This integration aims to improve fund scheduling efficiency, settlement flexibility, and settlement speed in cross-border payments.

ZeroHash will provide underlying technology and compliance support. The company previously became the first enterprise to obtain licensing and qualify as an Electronic Money Institution under the European Markets in Crypto-Assets Regulation framework.