Circle Internet (NYSE:CRCL) stock gained 3% Tuesday morning after Bloomberg reported that Visa Inc. is trialing a program using Circle’s stablecoins for cross-border transactions.
The pilot will leverage Circle Internet Group Inc.’s USDC dollar-backed and EURC euro-backed stablecoins on Visa Direct, the network’s real-time payment platform. The initiative is designed to give banks, financial institutions, and remittance providers faster, more flexible international payment options without requiring extended pre-funding of accounts.
Mark Nelsen, head of product for Visa’s commercial and money movement solutions, explained that the program addresses a key challenge for clients who currently need to maintain pre-funded accounts in every market where they operate. This setup can create delays in payments, particularly over weekends when conventional banking systems are closed.
“We’re giving this immediate ability to get money to the accounts in real time,” Nelsen said. “It’s a more efficient use of capital so you can deploy it as needed as opposed to having to deploy two or three days worth of money in one stop.”
By enabling stablecoin-based transfers, the system could reduce service interruptions for end users, allowing funds to move instantly even when traditional banking channels are offline.
Circle Internet Group stock price
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