Visa Supports Open USD with New Stablecoin Platform Amidst Competition

Visa has launched a new stablecoin platform that enables banks and fintech companies to issue, manage, and settle digital dollars using its payment network.

Visa has introduced a stablecoin platform allowing financial institutions to issue and manage digital dollars.

By Helene Braun|Edited by Nikhilesh De Jul 16, 2026, 4:14 p.m. 2 min read

• On Thursday, Visa unveiled the Visa Stablecoin Platform, providing banks and fintechs with tools to issue, store, and transfer Open USD stablecoins.
• The platform integrates wallet infrastructure, stablecoin issuance, and Visa's payment network to streamline blockchain-based payments and settlements.
• Following Visa's endorsement of Open Standard's Open USD, shares of Circle dropped approximately 5%, reflecting the increased competition in the stablecoin market.

Visa has rolled out a platform designed to facilitate the development of products using stablecoins for banks, fintech firms, and crypto companies, marking its continued expansion into blockchain payments amidst growing competition.

The firm announced on Thursday the launch of the Visa Stablecoin Platform (VSP), which serves as an enterprise solution enabling institutions to issue, store, transfer, and redeem stablecoins via a Visa-managed system. The platform debuts with support for Open USD (OpenUSD), a new stablecoin from Open Standard, and offers features for minting and redeeming the token, as well as wallet infrastructure for managing on-chain assets.

Stablecoins are cryptocurrencies designed to maintain a stable value, often pegged to the U.S. dollar. Unlike Bitcoin BTC$64,471.17 or Ethereum (ETH), they are commonly utilized for payments, international transfers, and settlements due to their combination of blockchain efficiency and stable pricing.

According to Visa, the platform includes Wallet-as-a-Service infrastructure, blockchain connectivity, and security measures like dual-approval workflows, audit logs, and transfer allow lists. It is also integrated with Visa's existing payment network, enabling financial institutions to incorporate stablecoins into treasury management, settlement, and payment products without overhauling their current systems.

Jack Forestell, Visa's Chief Product and Strategy Officer, stated, "Stablecoins are opening up a new layer of programmable money, but for most institutions, the challenge lies not in the concept but in the operational execution."

This launch is part of Visa's broader strategy concerning digital assets. The company already facilitates stablecoin settlements for select partners, provides crypto-linked card services, and has expanded blockchain-based cross-border payment solutions.

The announcement arrives as competitive dynamics in the stablecoin sector escalate. Open Standard, which supports Open USD, is backed by notable entities such as Visa, BlackRock, Alphabet, and Coinbase (COIN). The initiative aims to attract banks, payment processors, and crypto exchanges by eliminating minting and redemption fees while redistributing nearly all reserve income to distribution partners. If successful, this model could significantly alter the economic landscape of stablecoins, favoring distributors over issuers.

The competitive environment has negatively impacted Circle (CRCL), whose USDC is the second-largest stablecoin globally, following Tether's USDT. On Thursday, Circle's stock fell about 5%, experiencing pressure since the introduction of Open Standard, as investors express concerns that new revenue-sharing strategies could undermine the financial viability of established issuers.