Visa to Pilot Stablecoin-Linked Cards in Latin America
Visa will launch a pilot program allowing customers in Argentina, Colombia, Ecuador, Mexico, Peru, and Chile to make transactions using stablecoins. Cardholders can use stablecoin balances for purchases at any merchant accepting Visa. The program aims to expand to Europe, Asia, and Africa soon. Fintech companies and developers will issue the cards in collaboration with Bridge, a Stripe unit. This initiative follows Mastercard's similar announcement and highlights the growing interest in stablecoins, which are cryptocurrencies backed by stable assets like the U.S. dollar. Visa's Chief Product and Strategy Officer emphasized the goal of integrating stablecoins into Visa's network securely. The focus on Latin America addresses rising consumer demand for stablecoin usage in everyday transactions.
