Visa has launched the Visa Stablecoin Platform to facilitate stablecoin transactions for banks and fintechs, addressing operational challenges.
Visa has launched the Visa Stablecoin Platform (VSP), a new initiative aimed at banks and fintech firms to streamline transactions using stablecoins.
This platform allows for the issuance, redemption, storage, and transfer of stablecoin assets through a unified interface. It includes a Wallet-as-a-Service feature, where Visa manages the wallet infrastructure, enabling clients to connect via API. To enhance security, transactions require keys for access and are limited to pre-approved addresses, with sensitive actions needing confirmation from a second user.
Jack Forestall, Visa's Product and Strategy Director, stated that this platform addresses a significant challenge for large organizations: the operational deployment of stablecoins.
Initially, the VSP will support the Open USD stablecoin developed by the Open Standard consortium, which includes Visa. This token comes with no issuance or redemption fees, with revenue generated from reserves benefiting partners. The platform will also support USDC from Circle and USDG from Paxos.
Visa has been progressively enhancing its stablecoin capabilities. In November 2025, it launched a pilot called Visa Direct, allowing U.S. customers to send USDC to various wallets. In December, stablecoin settlements using Circle's USDC commenced for U.S. banks.
In March 2026, Visa and Bridge, a stablecoin infrastructure platform owned by Stripe, expanded their stablecoin card program, which operates in over 100 countries after being introduced in 2025.
Additionally, Visa is focusing on AI-driven payment solutions, with representatives emphasizing that embracing new technologies and partnerships is crucial for maintaining their leadership in global commerce transformation. In July, Visa collaborated with Animoca Brands to pilot AI-based services for the Minds marketplace.
