Payment giant Visa has introduced the Visa Stablecoin Platform (VSP) designed for banks and fintech companies to facilitate transactions with stablecoins.
The platform supports the issuance, redemption, storage, and transfer of assets within a single interface. It also features Wallet-as-a-Service, where Visa hosts and manages the wallet infrastructure, allowing clients to connect via API. Access is secured with keys, and transfers are restricted to a list of approved addresses. Sensitive transactions require confirmation from a second user.
Visa's Product and Strategy Director, Jack Forestall, believes this will eliminate the primary barrier for large organizations: the operational implementation of stablecoins.
Initially, VSP will work with the Open USD stablecoin from the Open Standard consortium, which includes Visa. The token has no issuance or redemption fees, with revenue from reserves going to partners. Additionally, USDC from Circle and USDG from Paxos are also available on the platform.
Visa is steadily expanding its stablecoin infrastructure. In November 2025, the company launched a pilot project called Visa Direct, enabling U.S. customers to transfer USDC to recipient wallets. A month later, it initiated stablecoin settlements for U.S. banks using Circle's stablecoin.
In March 2026, Visa and the Stripe-owned stablecoin infrastructure platform Bridge announced an expansion of their stablecoin card program. The product, introduced in 2025, operates in over 100 countries.
The payment giant is also actively involved in the development of AI payments. Visa representatives believe that adopting new technologies and being open to partnerships help the company maintain its leadership in transforming global commerce.
Notably, in July, the firm, in collaboration with Animoca Brands, launched a pilot version of AI-based services for the Minds marketplace.