Visa Launches Stablecoin Platform for Banks and Fintechs, Backing New 'Open USD'

Bloomberg·medium signal

Visa introduced the Visa Stablecoin Platform (VSP), bundling minting, redemption, wallet infrastructure, and treasury management into one enterprise system so banks and fintechs can run stablecoins alongside existing rails. It launches with the new OUSD from the Open Standard consortium, plus support for Circle's USDC and Paxos' USDG, opening access to roughly 200M merchants and ~15,000 financial institutions. Visa, which settles about $15T annually, is entering beta with select customers before wider rollout.