Visa, WeFi Explore On-Chain Banking for Stablecoins

Visa has partnered with WeFi to explore stablecoin-based payments and on-chain banking in select markets across Europe, Asia, and Latin America [1]. The initiative aims to test how blockchain-based assets can be embedded into traditional payment ecosystems under established regulatory frameworks [1].

Key takeaways

• Visa and WeFi are testing stablecoin payments in Europe, Asia, and Latin America [1].
• The project focuses on regulated stablecoins for everyday use without changing consumer behavior [1].
• WeFi uses a "deobanking" model that separates asset custody from payment execution [1].
• Specific terms, launch timelines, and supported cryptocurrencies have not been disclosed [2].

Bridging Traditional Finance and Decentralized Systems

Visa is working with WeFi, a deobanking infrastructure provider that combines traditional banking with decentralized finance, to enable consumers to spend across Visa’s network [1]. The companies aim to allow businesses to benefit from faster, more predictable cross-border settlement, all without requiring changes to existing payment behaviors [1]. Mathieu Altwegg, Head of Product & Solutions Europe at Visa, stated that the focus is on making new digital asset models practical