Visa Launches Stablecoin Platform for Financial Institutions

MT Newswires Live07-16 23:05

Visa (V) said Thursday it launched the Visa Stablecoin Platform, a platform designed to help financial institutions, fintechs and crypto-native firms access stablecoin functionality through a single Visa-managed environment.

The platform initially supports Open USD, a stablecoin introduced by Open Standard, and provides institutions with tools to mint, burn, store, manage and transfer the token. It also includes Wallet-as-a-Service infrastructure to support onchain wallets and stablecoin transactions, the company said.

Visa said the platform integrates stablecoin capabilities with its payments network, treasury, settlement, risk and fraud tools, while offering security features including dual-control approvals, audit logging, secure passkeys and transfer allow lists to help financial institutions securely manage stablecoin transactions.

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