Visa launches stablecoin platform for banks and crypto firms
July 18, 2026
Visa has introduced a novel platform, enabling banks, fintech companies, and cryptocurrency firms to issue and regulate stablecoins in one system, with a focus on Open USD.
One of the frontrunners in payment technology, Visa, has disclosed its innovative platform designated as the Visa Stablecoin Platform (VSP), catering to the issuance and regulation of stablecoins, combining wallet infrastructure, token minting, burning, and payment operations. Emphasizing the amalgamation of these features under a singular infrastructure, Visa aims to streamline the stablecoin process for banks and financial institutions.
The inaugural stablecoin supported on this platform will be Open USD, a stablecoin brought forth by Open Standard. However, a partnership involving Open Standard had raised concerns recently, particularly by well-known Korean entities like Samsung and Dunamu. Initially, Open Standard had acknowledged the involvement of these companies in the project, but skepticism emerged due to the lack of clarity and conclusive statements.
Visa has elaborated that VSP encompasses a wallet-as-a-service component for corporations to leverage on-chain wallets without necessitating constructing their own systems from scratch. Furthermore, the platform achievement extends to dual-approval methods, audit trails, transaction allowlists, and wallet security protocols involving passkeys to fortify safety measures and minimize unauthorized access risks.
Primarily, this platform aims to integrate into existing stablecoin products initiated by Visa, such as stablecoin settlements, and offers stablecoin cards. This approach of supplementing blockchain-based payment measures as a complementary addition to conventional treasury and payment procedures fulfills Visa’s intent of enhancing but not replacing conventional payment methods.
Visa has released VSP in a preliminary phase for a selective group of clientele as a beta version. Future plans include a wider rollout of the platform to a broader client base, although a specific release timetable has not been disclosed.
This launch coincides with Visa’s expansive adoption of stablecoins, manifesting in a stablecoin settlement trial across five new blockchains during April, expanding the total number of supported chains to nine, as reported by the Bitcoin Foundation. Such initiatives demonstrate Visa’s broader commitment to evolving payment mechanisms enveloped around stablecoins in conjunction with traditional fiat currencies.
