Wirex and Visa Enable Stablecoin Payouts

- The "Stablecoin Push-to-Card" feature is designed for businesses with global teams and supplier networks, enabling instant payouts for contractor payments, employee reimbursements, and supplier settlements. - Wirex, founded in 2014 by Pavel Matveev and Dmitry Lazarichev, has grown to over 6 million customers and has processed $20 billion in transactions. - The service operates on Visa Direct, a network that reaches over 11 billion endpoints, including 3 billion cards, across more than 190 countries. - Payouts can be initiated using only the recipient's 16-digit card number, with funds often available in under 30 seconds. - As a principal member of both Visa and Mastercard in the UK and APAC, Wirex can directly issue crypto-enabled debit and prepaid cards in over 40 countries. - The underlying Banking-as-a-Service (BaaS) platform allows other Web3 companies and fintechs to integrate stablecoin banking and card issuance into their own applications via an API. - This initiative is part of a broader trend where stablecoins are increasingly used for cross-border remittances, B2B transactions, and payroll to reduce costs and settlement times associated with traditional banking. - Wirex's business-focused platform offers corporate accounts in multiple fiat and stablecoins, corporate Visa cards, and built-in yield on stablecoin holdings.