Visa Teams Up with Baanx to Launch the $USDC Payment Card, Ushering in a New Era of Stablecoin Spending
On April 30, 2025, Visa announced a partnership with fintech company Baanx to launch a payment card based on the $USDC stablecoin, symbolizing a significant breakthrough for global payment giants in the cryptocurrency industry. This innovative payment card will allow users to spend their $USDC stablecoins directly for daily purchases without needing to convert cryptocurrency into fiat currency in advance. According to Visa's announcement, cardholders can use this card at over 80 million merchants worldwide that accept Visa, achieving a seamless payment experience.
Cuy Sheffield, Head of Visa's Cryptocurrency Division, stated: "We believe stablecoins have the potential to be a key component of the next generation of payment infrastructure. Through our partnership with Baanx, we are providing consumers with a simple and secure way to use digital assets in their daily lives."
Mark Evans, CEO of Baanx, also added: "This partnership will help us achieve our shared vision of making cryptocurrency a mainstream payment method. Our goal is to enable cryptocurrency holders to spend their digital assets as easily as traditional currency."
Latin America Becomes a Pilot Market as Visa Collaborates with Bridge to Expand the Stablecoin Payment Ecosystem
At the same time, Visa also announced a strategic partnership with Latin American fintech company Bridge to launch the region's first stablecoin payment card product. This collaboration will enable users in Latin America to use stablecoins pegged to the US dollar for everyday transactions, providing more stable and efficient payment options for the local economy.
Eduardo Coello, Co-Founder and CEO of Bridge, pointed out: "In Latin American countries with high inflation rates, stablecoins provide a way to preserve value while enabling instant, low-cost cross-border transactions."
This new product will initially launch in countries such as Argentina, Brazil, Colombia, and Mexico, with plans to expand throughout the Latin American region. Bridge stated that their platform has already processed over $1 billion in cryptocurrency transactions, with over 500,000 active users. Through its partnership with Visa, Bridge anticipates issuing over 1 million stablecoin payment cards by the end of 2026.
Maria Fernanda Coelho, President of Visa Latin America, emphasized: "Latin America is one of the regions with the highest cryptocurrency adoption rates globally, and we see tremendous market potential."
Stablecoin Payment Cards Will Change the Global Financial Landscape, Visa Leading the Payment Revolution
The launch of the stablecoin payment card by Visa represents a significant shift of traditional payment giants towards the digital asset industry. Analysts believe this move will not only accelerate the mainstream adoption of stablecoins but also bring significant breakthroughs in global financial inclusion.
According to data from cryptocurrency market research firm Chainalysis, the global stablecoin market has exceeded $250 billion, with an annual trading volume exceeding $8 trillion, among which USDC is the second-largest stablecoin with a market cap of approximately $35 billion.
Visa's move is also seen as a response to competitor Mastercard's recent similar actions. Last month, Mastercard announced a partnership with Circle and Paxos to allow merchants in its network to accept stablecoin payments.
Financial Technology Analyst Sarah Johnson pointed out: "Visa and Mastercard are competing for dominance in the crypto payment market, and this competition will ultimately benefit consumers." She predicts that by 2027, over 50 million people worldwide will use stablecoin payment cards for daily spending.
Terry Angelos, Visa's Cryptocurrency Strategy Officer, summarized in a statement: "Stablecoin payment cards are a bridge connecting the traditional financial system and the emerging digital asset economy. We believe this integration will bring more convenient and secure financial services to billions of people worldwide while opening new revenue streams for merchants. With the increasingly clear regulatory environment, we expect to see explosive growth in stablecoin payments in the coming years."
Extended Reading
Mastercard Embraces Crypto Payments! Integrating Rewards and Withdrawals, 150 Million Merchants Worldwide Can Accept Stablecoins
‘Visa Launches USDC Payment Card! It Will Support Physical Card Payments, Can You Use Stablecoins with the Card in Your Hand?’ This article was originally published in ‘Crypto City’
