Visa Unveils Unified Stablecoin Platform for Banks and Crypto Services

Visa has introduced a new platform for working with stablecoins, called Visa Stablecoin Platform (VSP). The platform allows banks, fintechs, and crypto services to issue, manage, and transfer stablecoins in a single environment. This move could accelerate the integration of cryptocurrencies into the banking system.

The first supported asset on VSP is Open USD (OUSD), a new stablecoin from Open Standard. The platform already offers several key tools for working with stablecoins, including minting and burning OUSD, stablecoin custody and transfers, wallet-as-a-Service for creating onchain wallets, integration with bank accounts, multi-level transaction approvals, audit logs, and allowlists to enhance security.

Visa's Chief Product and Strategy Officer, Jack Forestell, stated that the platform will help institutions turn interest in stablecoins into 'real products and real payment flows'. The new service continues a series of Visa initiatives in the digital assets space. In 2026, the company integrated stablecoin payments into Visa Direct in partnership with BVNK.