USA | Visa has announced the Visa Stablecoin Platform (VSP), a new enterprise platform designed to help financial institutions, fintechs, and crypto natives access stablecoin capabilities through a single Visa-managed environment.
Building on Visa’s broader crypto strategy, VSP will give FIs, fintechs and other payment providers a simple way to access, store, and redeem stablecoins, beginning with Open USD (OUSD), a new stablecoin recently introduced by Open Standard.
“Stablecoins are opening up a new layer of programmable money, but for most institutions, the hard part isn’t the concept, it’s the operational reality,” said Jack Forestell, Chief Product and Strategy Officer, Visa.
“With the Visa Stablecoin Platform, we’re giving our clients a single place to mint, move and manage stablecoin operations with the controls, security and network reach they already expect from Visa. It’s how we help them turn interest in stablecoins into real products and real payment flows.”
Visa Stablecoin Platform provides direct access to a range of stablecoin capabilities. It flows alongside Visa’s network, risk and fraud capabilities, including access to Open USD, on-chain wallet infrastructure and integration into Visa’s network.
VSP can be interoperated with Visa's existing stablecoin offerings, including stablecoin settlement, stablecoin-linked cards, and stablecoin money movement.
Together, these capabilities provide a full-stack of solutions that help FIs and fintechs go on-chain and enable crypto platforms to access Visa's global network.
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