Taneja Rajat sold $6.7M of V

Visa (NYSE: V) received preliminary approval from the People’s Bank of China to establish a domestic card clearing operation. The company has one year to complete preparatory work before applying for full operational approval. Visa aims to handle renminbi-denominated transactions in China, expanding its services beyond foreign-currency and cross-border payments. The approval follows years of applications and aligns with China's gradual opening of its financial sector.

Visa has launched a commercial service for international transfers using USDC stablecoin via Visa Direct. Partnering with Inyo Global, the service enables near real-time cross-border payouts in over 180 countries. Visa aims to integrate blockchain technology into traditional payment systems, expanding its stablecoin business.

A £700m claim filed against Visa and Mastercard in the UK Competition Appeal Tribunal alleges the companies imposed unlawful inter-regional fees on UK businesses after Brexit. The claim, led by Ann Pope, covers ~126,000 UK businesses accepting EEA card payments since Oct 2020. Visa and Mastercard raised fees after EU interchange caps ended, according to the Payment Systems Regulator.

Visa has expanded stablecoin capabilities across Visa Direct, its real-time payments network, through a partnership with Zerohash. Eligible clients can prefund accounts and send payouts in stablecoins to over 18 billion endpoints in 195 countries. Visa aims to make cross-border payments faster and more flexible, targeting business-to-business and business-to-worker use cases.

Visa and Mastercard have introduced stablecoin funding options for businesses. Visa partnered with Inyo Global to enable USDC prefunding for cross-border payouts. Mastercard's platform, via BVNK, allows stablecoin-funded local-currency bank payouts. Mastercard aims to expand to 40+ currencies in 200+ countries by 2027. Nuvei and Marqeta are prospective early integrators.

Visa is commercializing a USDC prefunding service via Visa Direct, with Innyo Global as the first partner. The service allows clients to preload funds in USDC for cross-border remittances. Visa previously tested stablecoin prefunding and payouts, partnering with Zero Hash and conducting a USDC test with Lloyds Bank.