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Visa has unveiled the Visa Stablecoin Platform (VSP), a new enterprise platform designed to help financial institutions, fintechs and crypto-native firms mint, move and manage stablecoins through a single Visa-managed environment, the company said Thursday.
With the new platform, Visa aims to make stablecoin payments and settlement as seamless as traditional electronic payments for businesses and consumers, helping accelerate mainstream stablecoin adoption.
According to the report, VSP enables institutions to process stablecoin transactions through Visa’s existing payment network while integrating with established treasury, settlement and money movement workflows.
Visa, which settles approximately $15 trillion in payments each year and already processes several billion dollars in stablecoin settlements, expects the new platform to expand usage among its network of roughly 15,000 financial institutions and more than 200 million merchants. The company said merchants can benefit from low-cost, near-instant settlement while maintaining transparent transaction records through blockchain technology.
Visa will launch the platform with Open Standard’s Open USD (OUSD) stablecoin, while continuing to support Circle’s USDC and Paxos’ USDG as part of its digital asset strategy. The company is a key launch partner of the Open Standard ecosystem, which aims to build an open, enterprise-grade stablecoin infrastructure for global money movement.
VSP is one component of Visa’s end-to-end stablecoin suite, alongside stablecoin-linked cards, Visa Direct cross-border payments and consulting services.
Targeting banks, fintechs, crypto platforms and developers, Visa said its solutions are designed to simplify stablecoin adoption and enable secure, scalable use of blockchain-based payments worldwide.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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