According to @simplykashif, Visa is testing stablecoin payouts using USDC with a flow where senders pay in fiat and receivers are paid in USDC (source: @simplykashif on X, Nov 12, 2025). The post characterizes this as a test phase and specifies payouts as the use case, indicating a fiat-to-USDC settlement structure for transactions (source: @simplykashif on X, Nov 12, 2025).