Visa pilots stablecoin prefunding to speed up cross-border payments
NAIROBI, Kenya, September 30 - Payments solutions provider Visa has launched a pilot program that will allow businesses to use stablecoins to pre-fund Kenya breaking news | Kenya news today |..
✨ Key Highlights
Visa has launched a pilot program in Kenya enabling businesses to use stablecoins to pre-fund cross-border payments via its Visa Direct platform, aiming to cut costs and ease liquidity pressures for financial institutions. This initiative targets banks, remittance providers, and other financial institutions for faster global payouts.
- Beneficiary: Kenya, where diaspora remittances are the largest source of foreign exchange, hitting Sh 680 billion ($4.5 billion) in 2024.
- Key Person: Chris Newkirk, President, Commercial and Money Movement Solutions at Visa.
- Timeline: Broader availability of the stablecoin integration is expected in 2026.
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NSE Launches Banking Index, Family Bank Seeks Listing, and Visa Pilots Stablecoin Payments in Kenya - October 2025
The Nairobi Securities Exchange (NSE) launched a new Banking Sector Index on October 1, 2025, which will serve as a benchmark for investors and support the creation of new products like exchange-traded funds. Following this, Family Bank announced its shareholders will hold an Extraordinary General Meeting on October 27, 2025, to vote on listing the bank’s shares on the NSE by introduction. This move is intended to enhance liquidity for shareholders and improve transparency. In the financial technology space, Visa has launched a pilot program in Kenya enabling businesses to use stablecoins to pre-fund cross-border payments. This initiative, utilizing the Visa Direct platform, aims to reduce costs and ease liquidity pressures for financial institutions like banks and remittance providers.
