cryptobriefing.com
Visa has unveiled the Visa Stablecoin Platform (VSP), a unified infrastructure platform that enables banks, fintechs and crypto firms to access stablecoin capabilities, including wallet management, minting, transfers and redemption, through a single Visa-managed environment, the company said Thursday.
According to the company, the platform combines Wallet-as-a-Service infrastructure with Visa’s payment network, treasury tools and risk management capabilities, allowing institutions to integrate stablecoins into existing payment, settlement and liquidity workflows without building separate blockchain infrastructure.
With the offering, Visa aims to simplify enterprise adoption of stablecoins while maintaining the security, governance and operational controls expected by regulated financial institutions.
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.