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Visa Pilot Lets Banks Use Stablecoins for Global Payouts
Crypto Trends

Visa Pilot Lets Banks Use Stablecoins for Global Payouts

by admin September 30, 2025



Visa has launched a pilot allowing banks and financial institutions to pre-fund cross-border payments using stablecoins.

Announced at SIBOS 2025, the Visa Direct stablecoin pilot enables select partners to use Circle’s USDC (USDC) and EURC (EURC) as pre-funded assets to facilitate near-instant payouts, according to a Tuesday announcement.

“Cross-border payments have been stuck in outdated systems for far too long,” said Chris Newkirk, president of commercial and money movement solutions at Visa.

The goal is to reduce the need for capital to be parked in advance and modernize treasury operations. “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,” Newkirk added.

Stablecoin market cap stands at over $307 billion. Source: CoinMarketCap

Related: Colombians can soon save in stablecoins with new MoneyGram app

Visa pilot lets banks use stablecoins for global payouts

The pilot is designed for banks, remittance services and financial institutions seeking to optimize liquidity. Instead of tying up fiat currencies across multiple corridors, participants can fund Visa Direct with stablecoins, which Visa treats as cash equivalents for the purpose of initiating payouts.

Stablecoin pre-funding is expected to unlock working capital, reduce exposure to currency volatility and improve predictability in treasury flows, especially during off-hours or weekends when traditional systems are inactive.

Visa says it has settled over $225 million in stablecoin volume to date, though that remains a small fraction of its $16 trillion in annual payments. The pilot is currently limited to partners that meet Visa’s internal criteria, with plans for a broader rollout in 2026.

Cointelegraph reached out to Visa for comment, but had not received a response by publication.

Related: SWIFT declares second sandbox connector tests a success for CBDC and more

Swift to build blockchain for cross-border settlements

Visa’s move to use stablecoins for cross-border payments came a day after Swift announced it was collaborating with Ethereum developer Consensys and over 30 financial institutions to build a blockchain-based settlement platform aimed at enabling 24/7 real-time cross-border payments.

Crypto payment firms have also seen growing attraction. Last week, stablecoin payments startup RedotPay reached unicorn status after raising $47 million in a strategic round led by Coinbase Ventures, with support from Galaxy Ventures and Vertex Ventures.

During the same week, stablecoin infrastructure startup Bastion raised $14.6 million in a round led by Coinbase Ventures, with backing from Sony, Samsung Next, Andreessen Horowitz and Hashed.

Magazine: Bitcoin mining industry ‘going to be dead in 2 years’ — Bit Digital CEO



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September 30, 2025 0 comments
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Command fleets or pilot mouthwatering starships in Nullspace, a strategy game with a "unique" take on the Fermi Paradox
Game Updates

Command fleets or pilot mouthwatering starships in Nullspace, a strategy game with a “unique” take on the Fermi Paradox

by admin September 26, 2025



Tasty-looking space games fill the atmosphere nowadays like satellite launch debris, but perhaps you’ll find room in your weirdly adapted magnetic fishing net for one more – Kaigan’s Nullspace. I came across it in yesterday’s Indie Fan Fest stream, and I quite like the cut of its torpedo bays.


Nullspace grabs me for a couple of reasons. One is its “retrofuturistic universe”, which strikes me as both sleek and cosy. It’s kind of chibi Homeworld. The kitbashed ships come alive with swivelling turrets and manoeuvring jets, but something about the way they’re proportioned, patterned and lit also makes me think of freshly piped cake icing. I also quite like the Star Fox-style jabbering heads of unit commanders in the bottom corner.

Watch on YouTube


The other thing I like is that this is one of those possibly borked genre hybrids, like Shiny Entertainment’s Sacrifice or Activision’s old Battlezone reboot. On the one hand, it’s a real-time strategy game with planetary bases, various resources to gather, a choice of fleet formations, and the option of either using asteroids for cover or blowing them up for disruption. On the other, it’s a dogfighter, with the ability to seize control of any ship and hose the badniks with your own two thumbs.


The result may prove to be more akin to Dynasty Warriors or a punch-up in an Airfix factory than the Battle of New Caprica. There are a couple of moments in the trailer when ships barge into each other like shopping trolleys. But I do like the bustle of it all.


There’s a story to reckon with, when you’re not making battleships kiss. It channels both “the Golden Age of Sci-Fi” and “deep existential themes”. According to the Steam page, you will “lead or challenge factions like the democratic Hegen, the transhumanist Dominion, and the resourceful Junkers as they vie for survival and dominance.” Apparently the game contains a “unique take on the Fermi Paradox”, this being the contention that we really should have run into some advanced extraterrestrials by now given the amount of stuff there is in outer space. Interested to learn more, I guess.


As for those factions, they put me a little in mind of Sins of a Solar Empire, though they don’t seem quite as vicious. Here’s the blurb in full:

  • The Junkers: Survivors and scavengers, the Junkers live on the fringes of space, salvaging remnants of humanity’s past to build a precarious future. Their resourcefulness and ingenuity allow them to adapt to any situation, but their distrust of centralized authority makes them fiercely independent–and difficult to unify.
  • The Hegen: A powerful, militaristic faction rooted in discipline and order. The Hegen values tradition and hierarchy, believing that humanity’s salvation lies in strict control and unwavering loyalty. Their massive fleets and technological prowess make them a force to be reckoned with, but their rigidity may blind them to alternative solutions.
  • The Dominion: Visionaries, innovators, and seekers of progress, the Dominion is driven by the belief that humanity’s evolution lies in embracing new ideas and technologies. They see opportunity in the chaos, pushing boundaries to forge a brighter future, though their relentless pursuit of advancement often clashes with the values of other factions.


All told: I can dig it. But do I dig it more than Nebulous: Fleet Command? I can see representations of gravity wells in the trailer, there, but I doubt it’s simulating quite as much stuff. Nullspace hath yet no release date beyond “coming soon”.



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September 26, 2025 0 comments
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JD.com’s global stablecoin push aims to shave days off cross-border payments
GameFi Guides

Circle, Paxos pilot system to fight counterfeit stablecoins

by admin August 28, 2025



Circle and Paxos have launched a pilot system to verify stablecoin issuers and block counterfeit tokens, aligning with new U.S. regulatory standards.

Summary

  • Circle and Paxos pilot a cryptographic system to verify stablecoin issuers.
  • The initiative aligns with the U.S. GENIUS Act for federal oversight of stablecoins.
  • It aims to prevent counterfeit tokens, boost trust, and drive stablecoin adoption.

According to an Aug. 27 report by Bloomberg, Circle Internet Financial and Paxos Trust Company have begun a pilot program for a new “know-your-issuer” system. By verifying the legitimacy of stablecoins at the time of issuance and transaction, the initiative aims to address long-standing concerns about counterfeit tokens.

How the system works

The verification tool, which was developed in partnership with the fintech startup Bluprynt, embeds cryptographic proof-of-issuer credentials directly into stablecoin transactions. Thus, it would be possible to track down the verified issuers of USD Coin (USDC), PYUSD, and USDP tokens issued during the pilot in real time.

The system removes the need for third-party audits and stops “copycat” tokens, which mimic genuine stablecoins but lack the necessary reserves or regulatory clearance.

Early testing showed that the system could seamlessly integrate across multiple blockchains, giving regulators and issuers a clear picture of the origins of tokens. The main objective of the pilot was to reduce the risks related to fraudulent stablecoins, a growing issue brought to light by companies such as Chainalysis.

Broader impact and regulatory context

The pilot closely aligns with the recently passed GENIUS Act, which sets federal standards for dollar-backed stablecoins. Lawmakers anticipate this framework will speed up adoption and potentially push stablecoin usage into the trillions, given the market’s current valuation of roughly $273 billion.

Circle and Paxos are both setting up shop to function under a single federal regulator. On Aug. 11, for example, Paxos reapplied for a national trust bank charter to grow beyond its license from the New York Department of Financial Services.

The KYI model may also apply to other GENIUS Act-compliant tokens that rely on tokenized U.S. Treasuries, like Ethena’s USDtb and Frax Finance’s frxUSD. The tool enhances investor trust and DeFi integrations while also assisting regulators by embedding provenance at the protocol level.



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August 28, 2025 0 comments
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VersaBank Kicks Off Tokenized Dollar Deposit Pilot Using Algorand, Ethereum and Stellar
Crypto Trends

VersaBank Kicks Off Tokenized Dollar Deposit Pilot Using Algorand, Ethereum and Stellar

by admin August 28, 2025



VersaBank, a Canadian digital bank with a focus on business clients, has started testing a tokenized deposit that the bank says provide a safer and more compliant alternative to stablecoins.

The pilot, run through the bank’s U.S. subsidiary VersaBank USA, will trial a U.S. dollar version of the bank’s blockchain-based Digital Deposit Receipts (DDRs) tech. Each token, branded USDVB, represents one U.S. dollar held on deposit at VersaBank USA.

The program will simulate thousands of transactions of small value, first internally and then with select external partners. Tokens will be managed through the bank’s digital vault and e-wallet platforms and issued on the Ethereum ETH$4,647.03, Algorand ALGO$0.2532 and Stellar XLM$0.3852 blockchains.

While stablecoins, crypto tokens with prices tied to fiat currencies like the U.S. dollar, have captured most of the attention, banks are also exploring tokenized deposits to make money transfers more efficient using blockchain rails. A stablecoin, like Circle’s USDC or Tether’s USDT, is typically issued by a private company and backs the tokens’ value with reserves held at a third-party custodian. Meanwhile, a tokenized deposit is a liability of a regulated bank and subject to banking rules.

Earlier this year, Custodia and Vantage Bank tokenized U.S. dollar demand deposits on Ethereum, while JPMorgan tested its deposit token on Coinbase’s layer-2 network Base.

Unlike most stablecoins, VersaBank said its tokens are federally insured and can earn interest, making them functionally similar to traditional deposits but with the added efficiency of blockchain-based settlement.

The bank said it expects to finish the pilot by the end of 2025 and will seek approval from the Office of the Comptroller of the Currency (OCC) before any public launch.

Read more: Stablecoins, Tokenization Put Pressure on Money Market Funds: Bank of America



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August 28, 2025 0 comments
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