Visa has reached a partnership with encrypted payment infrastructure provider Mesh, allowing consumers to use cryptocurrency and stablecoin balances for purchases at over 17.5 million merchants worldwide, without the need to first transfer funds to a bank account or load them onto a separate payment card.
According to the announcement released by both parties on October 19th, this collaboration will integrate digital wallets and cryptocurrency platforms into the payment network of Visa. Users will be able to make purchases directly from their existing balances, covering over 200 offline stores and online merchants in more than Visa countries and regions.
Mesh will be responsible for the fund allocation and exchange behind each transaction, while merchants will still collect payments through the existing Visa infrastructure. The announcement states that Visa processed payment transactions amounting to 14.2 trillion US dollars in the fiscal year 2025.
However, both companies have not yet disclosed when the new service will be launched, nor have they specified which cryptocurrency wallets will be supported at the time of its debut.
Visa and Mesh will integrate encrypted wallets into existing payment terminals
According to the agreement, Mesh will allow participating digital wallet providers and cryptocurrency platforms to directly offer payment functions, allowing customers to consume without having to withdraw their held assets first.
This payment process will rely on the Visa credential created in the backend. Customers can use standard contactless payment terminals or complete purchases online through supported applications.
When a transaction occurs, Mesh will manage the funds and the exchange process, deducting from the balances of supported cryptocurrencies, stablecoins, or fiat currencies.
Merchants will still collect payments through the existing infrastructure of Visa. There is no need to install new hardware, nor is there a need to change the way they accept transactions.
This arrangement does not mean that merchants will receive cryptocurrencies directly. Mesh will be responsible for completing the conversion required through traditional payment networks.
The company stated that wallet providers can enable this service through a single Mesh integration, without the need to develop and operate card projects on their own.
Mesh will act as the project manager and be responsible for customer account opening and registration, as well as the relevant Know Your Customer (KYC) review.
The company stated that its network currently serves over 200 enterprises and connects hundreds of wallets, exchanges, and financial platforms.
Its existing corporate partnerships include Kalshi, Tools, for, Humanity, Fé, Pago, Majority, and KAST, but the announcement did not confirm which partners would participate in the initial launch of Visa.
Mesh, co-founder and CEO, Bam Azizi, stated in the announcement: "Cryptocurrencies have never been about consumption; rather, it's about the 'last mile' issue."
Azizi indicates that the company's infrastructure will complete the allocation and exchange of funds at the time of payment, eliminating the need for customers to transfer funds between accounts before making a purchase.
Visa, the head of global growth, Rubail Birwadker stated that this collaboration will enable consumers to use their digital asset balances in more ways through mature payment services.
Visa Expands Stablecoin Payments Beyond Dedicated Card Projects
This collaboration continues Visa's various initiatives to integrate cryptocurrency holdings and stablecoin transactions into its existing payment infrastructure.
Visa disclosed in September that as of the second quarter of the 2026 fiscal year, there were over 160 stablecoin card projects operating globally.
The payment transaction volume for these projects has increased by nearly 200% compared to last year, while the annualized scale of the company's stablecoin settlement business has exceeded $20 billion.
The update released in October by Visa shows that its stablecoin card payments online continued to maintain a year-on-year growth of nearly 200%.
In the fiscal year 2026, enterprises and commercial projects accounted for approximately 17% of the transaction volume of card payments related to the company's stablecoins.
Mesh This arrangement adopts a user-oriented model that is different from traditional cryptocurrency card projects, as participating platforms can provide payment capabilities without requiring customers to apply for a separate card for each wallet.
Previously, payment integration required users to convert cryptocurrencies into fiat currency before making purchases, or to rely on specialized cards provided by specific issuers.
In January this year, Visa collaborated with Mercuryo to allow eligible users to exchange cryptocurrencies for fiat currency, and then transfer the funds through Visa Direct to Visa debit cards and credit cards.
This service is designed to transfer funds to eligible cards within a few minutes, depending on the supported markets and payment conditions.
In October, Visa also reached another digital asset agreement with ADI Foundation to explore blockchain infrastructure and digital payment systems.
However, the protocol is still in the exploratory stage, and neither party has announced the specific blockchain, stablecoin, or commercial launch date.
Mesh continues to expand on the basis of integration with exchanges and stablecoins
Mesh will continue to integrate cryptocurrency exchanges, wallets, and payment platforms into its network for most of 2026.
According to a report from crypto.news in September, Bybit Pay has integrated Mesh, connecting its payment services with over 300 wallets, exchanges, and financial platforms.
This integration allows Bybit users to directly use their exchange balances when making payments or recharging supported accounts, without the need to withdraw assets in advance.
Bybit indicates that this arrangement can serve approximately 80 million users, while enterprises that integrate with Mesh can support Bybit Pay through existing integrations.
Before cooperating with Visa, this exchange collaboration had already added another payment source to the Mesh network and further integrated with traditional merchant acceptance infrastructure.
Mesh completed a $75 million Series C financing in January 2026, with the company's valuation reaching $1 billion.
Thereafter, the company continued to expand its payment infrastructure through partnerships involving cryptocurrency exchanges, blockchain networks, and stablecoin providers.
In May this year, Mesh joined Global Dollar Network of Paxos, which is a project aimed at promoting the adoption of USDG stablecoins through participating financial and payment platforms.
Subsequently, in June, the company launched Mesh Alliance Program, which brings together enterprises engaged in the infrastructure construction of cryptocurrency payments.
Mesh indicates that the alliance currently has more than 50 partners, dedicated to simplifying the integration between enterprise payment providers and digital asset networks.
Mesh has also launched another product focused on automated payments, Mesh Wallet, aimed at allowing artificial intelligence agents to complete transactions using stablecoins.
As payment providers target daily consumption, the scale of cryptocurrency holdings continues to rise.
Mesh cited Crypto.com's research on the market size for the first half of 2026, estimating that as of June, the number of global cryptocurrency holders had reached 774 million.
Despite this considerable holding scale, consumption completed through cryptocurrency-related payment products is still relatively limited compared to mature card networks.
Mesh cites data from American Banker stating that by the end of 2025, the transaction volume for cryptocurrency card payments is expected to be around 1.5 billion US dollars per month.
RedotPay cites Paymentscan data stating that as of August 2026, the cumulative consumption of stablecoin cards has exceeded 10.9 billion US dollars.
The dataset records that in July, the consumption of stablecoins exceeded $1 billion, which was the highest monthly figure at that time.
These figures cover different statistical periods and payment categories, therefore it is not possible to directly compare the same market activities.
Mesh indicates that this new Visa integration will allow users who hold funds in multiple participating wallets to consume these balances through the same merchant acceptance network.
Each supported platform will be connected via Mesh, with Mesh managing the underlying payment credentials, account registration, and transaction exchanges.
The company has not yet specified which cryptocurrencies or stablecoins will be available for this new service.
Details regarding the participating platforms, supported devices, and the first batch of markets to go live are still to be announced. Mesh indicates that these arrangements will be disclosed after the final confirmation of the rollout plan.
