Visa launches stablecoin payments in Latin America in major advance for crypto

Visa announced a new product that will let consumers pay with stablecoins in six countries, including Mexico and Argentina, developed with the Stripe-owned startup Bridge. Senior vice president Rubail Birwadker said the offering works like a reloadable Visa card for merchants, who are paid immediately in their local currency. Bridge, acquired by Stripe last October for $1.1 billion, will supply the technology that third-party apps use to build the service, with early efforts expected to feature USDC. The companies expect the offerings to go live in the six Latin American countries within the next few weeks.