Visa Launches Overseas Remittance Service Utilizing USDC

Visa has commercialized an overseas remittance funding service utilizing the stablecoin USDC. On the 15th, Visa announced the official introduction of a pre-funding feature using USDC for its 'Visa Direct' service. The first commercial service will be provided through payment infrastructure company Inyo Global. This service allows users to secure the funds needed for overseas remittances in USDC without going through banks. Typically, overseas remittance companies need to prepare the funds to be paid out locally when a customer sends money, which can delay fund availability depending on bank hours or remittance processing schedules. With Visa's new feature, companies can secure funds in USDC 24/7. It is not a service where customers send USDC directly; rather, stablecoins are used in the process of remittance companies securing the necessary funds to process customer remittance requests. Inyo Global has applied this feature to its remittance platform, allowing existing clients to utilize USDC-based funding features through existing APIs without needing to build separate systems.

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