Visa launched the Visa Stablecoin Platform (VSP) to integrate digital currency transactions across its global network. The enterprise system serves approximately 15,000 financial institutions. The network also reaches over 200 million merchants.
Banks and fintech partners can access wallet management, minting, and redemption capabilities through Visa's existing infrastructure. This setup eliminates the requirement for clients to develop proprietary blockchain systems.
The platform enables stablecoin use for settlement, fund transfers, and treasury functions. VSP initially supports the new Open USD (OUSD) stablecoin. The system maintains compatibility with existing assets like USDC. This initiative aims to modernize global money movement through blockchain-based payments.