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Visa Stablecoins
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Visa Pilots Stablecoins To Modernize Cross-Border Payments

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Visa is launching a stablecoin prefunding pilot through Visa Direct, in a bid to make cross-border payments faster and more flexible.

Visa Direct Will Utilize Stablecoins For The First Time

Payments giant Visa has announced a new pilot program for Visa Direct, the firm’s real-time global payments platform. According to the announcement, which occurred at Sibos 2025, businesses will be able to prefund cross-border payments with stablecoins, cryptocurrencies pegged to a fiat currency.

Until now, Visa Direct users could only prefund their international payments using fiat. Such transactions were slow, sometimes taking days, forcing businesses to park their capital in advance. With the use of stablecoins, however, settlement can occur in minutes.

Chris Newkirk, President, Commercial & Money Movement Solutions at the company, said:

Cross-border payments have been stuck in outdated systems for far too long. Visa Direct’s new stablecoins integration lays the groundwork for money to move instantly across the world, giving businesses more choice in how they pay.

Pre-funding with these fiat-tied currencies works just like with fiat: Visa treats the tokens as “money in the bank.” Recipients, however, aren’t forced to get paid in stables; they can choose to receive in their local currency instead.

With the new pilot, businesses will have the advantage of having better access to capital, as they won’t have to park it up in advance for as long as with the current fiat system. As for who can use the Visa Direct pilot right now, the payment card services company has noted that it’s only open to select partners that meet the criteria. The firm expects the pilot to move into limited availability by April 2026.

Visa said in the press release:

By combining the scale and trust of Visa’s global network with the programmability of blockchain and by partnering with leading payment providers on prefunding use cases, Visa is helping modernize cross-border payments for businesses, financial institutions and consumers worldwide.

Visa isn’t the only financial institution that has made a move toward modernizing cross-border payments during Frankfurt’s Sibos 2025. Payments messaging platform SWIFT has also announced a shared ledger developed with 30+ major global banks based on the blockchain, the technology that powers digital assets like Bitcoin and stablecoins.

Bitcoin Has Retraced Some Of Its Recovery Over The Past Day

Bitcoin exceeded the $114,700 mark on Monday in what looked like the return of bullish momentum, but the rally seems to have already run out of steam as the cryptocurrency has returned to the $112,800 level.

The chart below shows how the coin’s recent performance has looked:

The trend in the BTC price over the last five days | Source: BTCUSDT on TradingView

One warning sign that may have already been there could be the sharp surge in the Open Interest that accompanied the price surge, as CryptoQuant community analyst Maartunn pointed out in an X post.

The data for 24-hour percentage change in the BTC Open Interest | Source: @JA_Maartun on X

A sudden large jump in speculative activity can often lead to volatility for Bitcoin, which may be what happened this time as well.

Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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U.S. dollar (Unsplash, modified by CoinDesk)
Crypto Trends

Arf, Huma to Join Circle (CRCL) Payments Network for Seamless Cross-Border Stablecoin Payments

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SINGAPORE — Arf, a Swiss provider of short-term liquidity for cross-border payments, is set to join Circle Payments Network (CPN) in a move that will provide eligible users access to on-demand credit, effectively eliminating the need for prefunding, or tying up a large fiat balance before settlement occurs.

The integration, powered by Huma Finance’s PayFi network, aims to make cross-border stablecoin settlements faster and more capital-efficient, said Irfan Ganchi, senior vice president of product management at Circle Internet (CRCL). Circle is the issuer of USDC, the second-largest stablecoin by market cap.

The development addresses a fundamental challenge in cross-border finance — how to move money quickly across borders without locking up large amounts of capital in prefunding, which limits flexibility and increases costs. Payments giant Visa (V) is also working on the problem and is starting a prefunding pilot for the use of stablecoins through Visa Direct, its real-time payments platform, it said Tuesday.

By enabling on-demand credit inside a major stablecoin network, Arf, which is regulated by Switzerland’s Financial Services Standard Association (VQF), and Huma are facilitating same-day USDC settlement, helping institutions free up working capital, reduce costs and accelerate payments, Ganchi said at the Circle Forum in Singapore.

Real-time stablecoin payments and reducing prefunding hurdles have been longstanding goals in the crypto and fintech industries. However, this partnership stands out as one of the prominent ones to include regulated entities and offer direct integration into a major stablecoin network, such as CPN.

Stablecoin boom

USDC holds a market value of $73.26 billion. Unlike some other cryptocurrencies, USDC operates within regulated frameworks, offering greater reliability and trust.

The adoption of stablecoins in cross-border transactions and other user cases beyond trading has been steadily growing.

According to Payments Consulting Network, 90% of financial institutions have actively integrated stablecoins, with nearly half already using them for payments. Traditional banks are twice as likely to prioritize cross-border payments, with 58% using stablecoins specifically for international transfers.

According to Treasury & Risk, the overall market for stablecoins is poised to hit $3 trillion by 2028.



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SBI Ripple Asia signs MOU with Tobu Top Tours to develop tokenized payments
NFT Gaming

SBI Ripple Asia signs MOU with Tobu Top Tours to develop tokenized payments

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SBI Ripple Asia is partnering with Tobu Top Tours to build closed-loop payment ecosystems. The venture will mint unique tokens for destinations and brands, tethering spending power to digital fan engagement and localized travel experiences.

Summary

  • SBI Ripple Asia and Tobu Top Tours signed an MOU to launch tokenized payment platform
  • Proprietary tokens on the XRP Ledger seek to support travel, retail, and fan economies
  • Service launch targeted for the first half of 2026

According to an announcement on Sept. 30, the two Japanese firms have inked a memorandum of understanding to build a new payment platform. Under the agreement, SBI Ripple Asia will issue proprietary tokens on the XRP Ledger, each tailored for partner companies and organizations.

Tobu Top Tours, a major travel and tourism operator, will leverage its industry clout to onboard partners, build out a network of affiliated stores, and develop marketing initiatives using NFTs functionally linked to these new tokens. The companies are targeting a service launch in the first half of 2026.

Tourism, fan economies, and other use cases

The memorandum outlines various use cases that move beyond theoretical applications. In tourism, the platform would issue tokens geographically locked to specific destinations, functioning as a digital currency for an entire town or shopping district.

SBI Ripple Asia said this would streamline the cashless experience for travelers and keep tourist spending circulating within the local economy. Notably, transactions could be paired with NFTs functioning as digital souvenirs or discount vouchers, creating a link between one-time visits and repeat engagement.

The model also proposes a new approach to disaster relief and regional aid. According to the companies, donations could be issued as tokens that are only spendable within the affected area, ensuring financial support goes directly to local businesses like restaurants and shops. This prevents aid from leaking out to national chains or online retailers, offering a transparent and targeted method to fuel grassroots economic recovery.

Additionally, the platform is engineered for the fan economy. Sports teams, artists, and cultural institutions could launch their own branded tokens. These would be used for merchandise and concessions, while NFTs act as programmable membership cards. The system could unlock special experiences or rewards based on a fan’s spending, creating a dynamic new revenue stream and deepening loyalty.



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Algorand Foundation Launches $300M DeFi Innovation Fund
NFT Gaming

Crypto AML Firm Notabene Introduces Compliance Platform for Stablecoin Payments

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Cryptocurrency anti-money laundering (AML) specialist Notabene has introduced Notabene Flow, a stablecoin payment platform designed for high-value business transactions.

Notabene, a firm focused on bringing compliance to crypto transactions, such as applying the so-called “Travel Rule,” said its platform adds features long absent from crypto rails in an emailed statement on Monday. These include payment authorization, invoicing and dispute resolution, to make stablecoin transfers viable.

Institutional firms such as Zodia Custody, Bitso and Borderless are among the initial adopters, looking to combine stablecoin speed with compliance standards familiar to traditional finance (TradFi).

There’s a lot happening around stablecoin payments at the moment, including the announcement this week that Swift, the long-established interbank messaging platform, will unveil its own blockchain-based stablecoin system for payments.

An obstacle to stablecoin payments is that most crypto transactions are “push-only,” leaving businesses without safeguards to reverse payments or block fraud, Notabene said. The firm’s new application introduces pull payments, recurring billing and standardized coordination between verified participants, backed by the company’s network of 2,000+ regulated entities.

The platform relies on the Transaction Authorization Protocol, an open standard that functions rather like a Swift-style messaging layer. Notabene partnered with the Global Legal Entity Identifier Foundation (GLEIF), a way of achieving entity verification anchored to the internationally recognized LEI standard, giving every participant a reliable foundation of counterparty trust.

“Cross-border B2B payments have always been slow, expensive, and complex,” Pelle Braendgaard, Notabene CEO said. “Stablecoins are the first real opportunity to change that, but these high-value payments need a trust framework to succeed at scale. Notabene Flow delivers that framework.”



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A Revolut card (Kay/Unsplash)
Crypto Trends

SWIFT to Develop Blockchain-Based Ledger for 24/7 Cross-Border Payments

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Global traditional finance (TradFi) payments system SWIFT said it is adding a blockchain-based ledger to its network.

SWIFT is working with a group of over 30 financial institutions to build a ledger that could make cross-border payments 24/7, based on a prototype by Ethereum developers Consensys, according to an announcement on Monday.

“The ledger will extend SWIFT’s financial communication role into a digital environment, facilitating banks’ movement of regulated tokenized value across digital ecosystems,” SWIFT said.

SWIFT is a messaging system that supports international bank transactions and is used by more than 11,000 financial institutions across over 200 countries.

Facing suggestions that it could be made obsolete by adoption of digital assets, particularly stablecoins, SWIFT has been experimenting with blockchain technology and tokenization for several years to try and get on the front foot against this potential disruption.

SWIFT said it envisages that the ledger will act as a real-time log of transactions between financial institutions, record, sequencing and validating transactions and enforcing its rules through smart contracts.



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India
GameFi Guides

Stricter Rules To Combat Rising Digital Payments Fraud

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

India has launched a sharp clampdown on online payment scams, ordering tougher checks and new rules that aim to cut the rising tide of fraud. Based on reports, regulators and payment networks moved after authorities recorded big jumps in both the number of cases and the money lost to scams last year.

India: RBI And NPCI Move Fast

Regulators have pushed several changes into the banking and payments system. According to published figures, incidents tied to Unified Payments Interface or UPI more than doubled from about 7.25 lakh ($8,700) to 13.42 lakh ($16,200) in fiscal year 2023-24.

Reported losses rose too, from ₹573 crore ($69 million) the year before to ₹1,087 crore ($131 million) in 2023-24. The central bank has allowed risk-based additional checks for certain transactions, and NPCI has told banks and apps to block pull or collect requests on UPI from October 1, 2025, a move meant to shut a common scam vector.

The Reserve Bank of India (@RBI) releases new guidelines on authentication for #digital payment transactions, set to take effect from April 1, 2026.

The framework mandates two-factor authentication for all digital payments, though no specific method is enforced.

The central… pic.twitter.com/NH7xKuMmzm

— All India Radio News (@airnewsalerts) September 25, 2025

New Authentication And Domain Rules

One of the headline changes is a requirement for two-factor authentication for payments, set to come into effect on April 1, 2026. Banks and payment firms will need to apply at least two methods of ID for transactions — such as biometrics, device tokens, or passphrases — while SMS OTPs will still be allowed in some cases.

Reports also say the industry will be asked to reserve clear, trusted web domains for banks and finance firms — examples given include “bank.in” for banks and “fin.in” for non-bank financial companies — to make phishing sites easier to spot and block.

Total crypto market cap currently at $3.67 trillion. Chart: TradingView

How Users And Banks Will Be Affected

The new rules are meant to stop impersonation scams, fake calls that pretend to be law enforcement, and other social engineering tricks that send money out of accounts.

A special Cyber Fraud Mitigation Centre and the Indian Cyber Crime Coordination Centre will coordinate responses, and a suspect registry drawn from the national cybercrime portal is being used to track suspicious accounts and identities.

Banks and small operators that run Aadhaar-enabled payment services will face stricter due diligence requirements for their agents and terminals.

Costs, Complexity And The Rural Gap

Banks and tech providers must upgrade systems to run the extra checks and keep records. That will add cost and complexity, especially for smaller firms and rural operators that rely on older devices.

Users may face more steps when they pay, particularly for cross-border or unusual transactions. Reports warn that fraudsters often change tactics after rules tighten, so the measures will need constant review and active enforcement to stay effective.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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Sui partners with t’order for commercial stablecoin payments in South Korea
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Sui partners with t’order for commercial stablecoin payments in South Korea

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South Korea’s largest table ordering service t’order has chosen the Sui blockchain to jointly develop a stablecoin infrastructure for commercial applications nationwide by leveraging the company’s extensive network.

Summary

  • t’order partners with Sui to launch a stablecoin payments system across 300,000 point-of-sale devices in South Korea.
  • The platform will use an upcoming won-pegged stablecoin that will be deployed on Sui.
  • Decentralized storage protocol Walrus will store transaction data.

Sui network announced the partnership via a Sep. 24 blog post, and said the collaboration will integrate t’order’s advanced QR code and facial recognition technologies to make everyday stablecoin payments more seamless.

t’order is South Korea’s largest point-of-sale ordering platform that processes over $4.3 billion in transactions annually. The company has long championed zero-fee payments for small businesses, and by integrating stablecoins, it hopes to replace costly card fees with faster, more affordable digital settlement.

According to Sui Foundation’s Managing Director, Christian Thompson, the collaboration is expected to target South Korea’s  food service market, which is valued at roughly 190 trillion KRW, and “improve the consumer experience for millions in Korea.”

“The mass adoption arc for stablecoins and crypto payments is rapidly accelerating, and it’s thrilling to see Sui at the forefront of this trend with innovative partners like t’order,” Thompson said.

The upcoming platform will be powered by a won-pegged stablecoin deployed on the Sui network. However, the announcement did not disclose a specific launch timeline or the name of the issuing entity. 

All transaction and loyalty data would be stored on Walrus, a decentralized storage protocol built on the Sui blockchain.

Once live, the stablecoin payments, rewards, and settlement system would be available across t’order’s nationwide network of over 300,000 point-of-sale devices.

“Our Partnership with Sui is the next step in that vision, leveraging our unique nationwide deployment capabilities and real-time infrastructure to create a new payment and settlement paradigm –one designed for and centered around small businesses,” a t’order spokesperson was quoted as saying.

SUI, the native token for the Sui network, did not immediately react to the news, and was down 3.4% in the past 24 hours, continuing its downtrend that began on Sep. 18.

South Korea’s growing appetite for stablecoins

Stablecoins have become a key focus area in South Korea over the past year as the nation pushes to develop a domestic digital asset ecosystem that reduces reliance on dollar-pegged tokens like USDT and USDC.

In recent months, local firms and financial institutions have accelerated efforts to issue won-based stablecoins, most notably with the launch of KRW1, a fully backed won-pegged token issued on the Avalanche blockchain.

At the same time, South Korean regulators have already kicked off efforts to finalize a legislative framework to regulate stablecoin issuance and operations in the country. A new bill set to be unveiled in October is expected to outline requirements around collateralization, internal controls, and issuer transparency.



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NFT Gaming

Ohio Moves to Accept Crypto Payments for State Fees

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In brief

  • The Ohio State Board of Deposit unanimously approved a vendor on Wednesday to process cryptocurrency payments for state fees and services.
  • Secretary of State Frank LaRose said he’s “excited and ready to be the first to provide it to our customers.”
  • The decision follows a broader Ohio crypto legislation push, including proposed Bitcoin reserve and blockchain protection bills.

The Ohio State Board of Deposit unanimously approved a vendor to process crypto payments, including Bitcoin, for state fees and services in its latest bid to integrate crypto into public finance.

“With hundreds of thousands of transactions going through my office each year, I want to commend the board for taking bold action to position us at the forefront of the emerging digital economy,” Ohio Secretary of State Frank LaRose tweeted on Wednesday.

Wednesday’s approval caps months of work that began in April, when LaRose and Ohio Treasurer Robert Sprague pushed the board to authorize crypto payments. 



The proposal passed unanimously in May, but needed final vendor approval, the last piece that fell into place on Wednesday.

“There’s a reason why we now rank among the top five states in the nation to do business,” LaRose said in a statement. “It’s because we’re not afraid to embrace the tools, trends, and technologies that incentivize job creators to come here.”

The Secretary of State said his office processes hundreds of thousands of transactions annually and has heard “growing demand for a cryptocurrency payment option.”

“I’m excited and ready to be the first to provide it to our customers,” he added.

“It’s happening. Government payments in Ohio today. Everything onchain tomorrow. Thank you, ser,” Coinbase CLO, Paul Grewal, tweeted in response to the announcement

The crypto payments are part of Ohio’s broader push into digital assets. 

In June, the House advanced the Ohio Blockchain Basics Act, which bans local governments from restricting digital asset use and exempts crypto transactions under $200 from capital gains taxes.

Dennis Porter, CEO of the Satoshi Action Fund, previously told Decrypt that the legislation is “a clear signal” that lawmakers are “encouraging innovation in the Buckeye State.” 

LaRose also backs House Bill 18, which would create an Ohio Strategic Crypto Reserve funded by portions of state investment earnings. 

In a May testimony, he cited President Donald Trump’s Working Group on Digital Asset Markets, established in January to make America the “crypto capital of the planet.”

So far, 47 states have introduced Strategic Bitcoin Reserve (SBR) bills, with about 26 states carrying active proposals still under consideration, according to the Bitcoin Laws tracker.

Arizona, Texas, and New Hampshire are among the few to advance measures furthest, while most remain stuck in committee.

Meanwhile, Michigan’s stalled Bitcoin reserve legislation gained momentum this week, with House Bill 4087 advancing to the Government Operations Committee after seven months of inaction.

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Avalanche (AVAX)
Crypto Trends

AVAX Surges as Avalanche Powers Stablecoin Payments in Korea and Japan

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Avalanche (AVAX) is steadily expanding its international presence and now operates in Asia, gaining momentum in both Korea and Japan with new stablecoin payment solutions.

The South Korean custodian BDACS recently launched KRW1, the country’s first Korean won–backed stablecoin, fully collateralized with deposits at Woori Bank. The stablecoin is in its pilot phase after a successful proof of concept, putting Avalanche at the forefront of Korea’s digital asset integration.

Similarly, in Japan, Avalanche is collaborating with industry giants such as SMBC, one of the nation’s largest banks, and retail groups like Densan to develop stablecoin-powered payment systems.

AVAX Network Activity and DeFi Boom

The expansion of stablecoin utilities coincides with a surge in network activity on Avalanche. In August alone, decentralized exchange (DEX) volume surpassed $12 billion, marking an eightfold increase in just two months.

Real-world asset (RWA) tokenization on Avalanche has also exceeded $450 million, with institutions like Grove Finance and SkyBridge driving adoption.

DeFi protocols such as UNI, Pharaoh, Benqi, and LFJ are thriving, pushing Avalanche’s total value locked (TVL) above $2 billion. UNI, for example, has posted a 97% gain in the past month, reflecting growing user activity and liquidity across the network.

AVAX’s price trends to the upside on the daily chart. Source: AVAXUSD on Tradingview

Avalanche Price Targets $42 as Institutional Interest Grows

Currently, AVAX is trading near $33, up over 9.4% in the past 24 hours. The token recently broke above a key pivot at $31.05, supported by bullish technical indicators including an RSI of 68.44 and a positive MACD histogram.

Analysts suggest that a decisive breakout above $34.50 could propel AVAX toward its next resistance at $42.

Institutional adoption is also on the horizon. With four AVAX ETF filings awaiting regulatory approval, inflows from traditional finance could act as a major catalyst for price growth.

Combined with Asia’s growing stablecoin market and Avalanche’s thriving DeFi ecosystem, AVAX aims to become a leading Layer-1 blockchain prepared to challenge rivals in the next crypto bull cycle.

Cover image from ChatGPT, AVAXUSD chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Nubank To Test Dollar-Backed Stablecoin Payments Via Credit Cards
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Nubank to test dollar-backed stablecoin payments via credit cards

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Nubank, Latin America’s biggest digital bank, will test dollar stablecoin payments via credit cards, a move Vice Chairman Roberto Campos Neto says shows how fast blockchain is forcing banks to bridge into the crypto world.

Campos Neto: blockchain and stablecoins reshaping finance in emerging markets

At Meridian 2025, Roberto Campos Neto stressed that blockchain will be critical to linking digital assets with traditional banking, enabling tokenized deposits while preserving credit intermediation. He pointed out that central banks are already struggling with the surge of crypto adoption, and stablecoins, particularly dollar-pegged ones, aare spreading fastest in emerging markets. 

Their appeal lies in easy access to the dollar, use in economies with non-convertible currencies, and demand in politically unstable regions. Though often used as a store of value today, Campos Neto noted their role is evolving toward broader transactional use.

Nubank pilot ties stablecoin payments to global dollar dominance

Nubank’s pilot will test dollar-backed stablecoin payments through credit cards, with plans to integrate the technology across its broader services. Roberto said the initiative fits the bank’s strategy of building a seamless financial ecosystem powered by artificial intelligence and blockchain, while also highlighting the geopolitical stakes: most stablecoins are dollar-pegged, fueling demand for U.S. Treasuries and raising alarms in Europe. 

He warned that euro-backed stablecoins may soon emerge, though the entrenched dominance of the dollar will be difficult to dislodge.

By testing dollar-backed stablecoin payments, Nubank is signaling how quickly traditional banking may converge with blockchain finance. If successful, the move could accelerate stablecoin adoption in Latin America, positioning the dollar-linked assets not only as a store of value but also as an everyday payment tool in emerging markets.

Also read: Crypto Markets Eye Upside As Fed Delivers First Rate Cut



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