Visa has launched a stablecoin platform designed for banks and fintech companies, according to Fortune, adding a new layer to its push into blockchain-based payments and settlement. The company said the service offers a one-stop setup that helps clients connect stablecoins to their existing payment, treasury settlement and fund flow systems, rather than building that infrastructure from scratch.
Visa said the goal is to make stablecoin usage easier across its network of about 15,000 financial institutions and more than 200 million merchants. The company processes roughly $15 trillion in payments each year and has already handled stablecoin settlement volume in the billions of dollars.
The new platform will combine Visa’s existing stablecoin capabilities and reduce the technical burden of dealing directly with blockchain systems, allowing clients to focus on the payment experience. For merchants, Visa said stablecoins can support instant settlement and lower transaction costs. As a strategic starting point, the platform will use Open Standard’s OUSD stablecoin, which was launched two weeks ago, while also adding to Visa’s existing support for USDC and USDG. Visa is a partner of Open Standard, and American Express and Mastercard are also involved in OUSD-related cooperation.
Visa has launched a stablecoin platform that gives banks and fintech companies a one-stop service for using stablecoins in existing payment operations, according to Fortune.
The company said the platform is built to help clients plug stablecoins into current payment, settlement and fund flow systems. Visa said it wants to make stablecoin usage easier for around 15,000 financial institutions and more than 200 million merchants connected to its network.
Visa processes about $15 trillion in payments each year and has already handled stablecoin settlement volume worth billions of dollars.
Bringing existing stablecoin services together
The platform will combine Visa’s current stablecoin services and reduce the complexity clients face when dealing with blockchain technology directly, letting them focus on the payment experience instead.
For merchants, Visa said stablecoin usage can enable instant settlement and lower transaction costs.
OUSD named as the strategic starting point
Fortune reported that the platform will use Open Standard’s OUSD stablecoin as the strategic starting point for its infrastructure. OUSD was launched two weeks ago.
The platform also adds to Visa’s existing support for USDC and USDG. Visa is a partner of Open Standard, while American Express and Mastercard are also involved in OUSD-related cooperation.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
