In the first episode of Season 2 of Stable Talks powered by Bitso Business, Caio Barbosa (Co-Founder & CEO at Lumx) and Julián Colombo (Senior Director, South America at Bitso) welcome Antônia Souza, Director of Blockchain & Crypto at Visa for Latin America and the Caribbean, to explore how one of the world’s largest payment networks is approaching stablecoins and digital assets.
Antônia shares her journey from big tech (Uber, Amazon, Meta) to the world of crypto and payments, including her time as COO at Lumx before joining Visa. The conversation unpacks Visa’s evolving role as more than a card company, its early experiments with stablecoins, and the balance between innovation and compliance when working with both regulators and fintechs.
🎧 Listen to the full episode below or read on for the main highlights of the conversation.
Highlights from the conversation
1. Visa’s perspective on stablecoins
“Visa is not just a card company, we’re a tech company. Stablecoins are part of how we’re rethinking payments infrastructure.”
— Antônia Souza
How Visa first became interested in blockchain and stablecoins
Stablecoins as programmable, efficient settlement rails
From speculation to real infrastructure in payments
2. Stablecoin-backed cards
“Stablecoin-backed cards are a powerful bridge, connecting digital assets with the everyday payments experience.”
— Antônia Souza
Growing interest in cards linked to stablecoins
Opportunities for faster settlement and global reach
Why consumer experience still matters most
3. CBDCs and Drex in Brazil
“CBDCs are state-led infrastructure, but stablecoins are already solving problems today.”
— Antônia Souza
Visa’s participation in Brazil’s Drex pilot alongside XP and Agrotoken
Differences between CBDCs and stablecoins in flexibility and adoption
How global institutions navigate public-private collaboration
4. Latin America as a live lab
“In LatAm, adoption isn’t theoretical — it’s a necessity. That’s why stablecoins are growing here faster than anywhere else.”
— Antônia Souza
Why countries like Argentina, Brazil, Mexico, and Colombia are leading stablecoin use
Use cases: remittances, inflation protection, B2B payments
Regional adoption grew more than 200% in 2023–24
5. Innovation inside large institutions
“At Visa, we’re in a continuous process of evolution, the challenge is fostering innovation within an already consolidated market.”
— Antônia Souza
Differences between startups and incumbents in innovating
The role of compliance and consumer protection
Building with long-term trust in mind
Stablecoins: from speculation to infrastructure
This episode shows how stablecoins are moving from speculative assets to becoming the backbone of real-world payments infrastructure. Antônia’s perspective highlights Visa’s dual role: driving innovation while ensuring trust and compliance. For Latin America, the message is clear, stablecoins are no longer optional, but essential for the future of digital payments.
“Stablecoins are the beginning of programmable money, and we’re just scratching the surface.”
— Antônia Souza (Visa)
How is Visa approaching stablecoins and blockchain payments?
Visa views stablecoins as programmable, efficient settlement rails that are transforming payments infrastructure. Through its blockchain and crypto division in Latin America, led by Antônia Souza, Visa is experimenting with stablecoin-backed cards and exploring how digital assets can enhance its existing payment network — positioning itself as a tech company rethinking payments, not just a card company.
What are stablecoin-backed cards and how do they work?
Stablecoin-backed cards allow users to spend digital assets through existing card infrastructure at any merchant that accepts Visa or Mastercard. The stablecoins are converted to local currency at the point of sale, giving users access to their digital holdings for everyday purchases while benefiting from faster settlement and potentially lower fees for the card issuer.
What is the relationship between Lumx and Visa in the stablecoin space?
Antônia Souza, now Director of Blockchain & Crypto at Visa for Latin America and the Caribbean, previously served as COO at Lumx. This connection illustrates the talent flow between crypto-native companies and traditional payment networks, and how both ecosystems are converging around stablecoin infrastructure as the future of digital payments.
How do stablecoins balance innovation with regulatory compliance in payments?
Companies like Visa navigate this balance by working closely with regulators and fintechs simultaneously. The approach involves building within existing regulatory frameworks while advocating for updated rules that accommodate digital assets. Stablecoin integration requires meeting AML/KYC requirements, maintaining reserve transparency, and ensuring consumer protection — all while pushing the boundaries of what payment infrastructure can do.
