Visa Introduces Platform for Stablecoin Minting, Movement and Management (VISA)
Visa is launching the Visa Stablecoin Platform (VSP), an enterprise environment for institutions to mint, move, and manage stablecoins, initially focused on Open USD (OUSD) issued via the Open Standard. VSP provides Visa‑managed onchain wallet infrastructure, connectivity for minting, burning, holding, and transferring OUSD, and integration with Visa’s existing settlement, treasury, and currency services, effectively offering a stablecoin “wallet‑as‑a‑service” embedded in Visa’s network stack. This is structurally significant because it treats stablecoins as an additional rail within Visa’s institutional treasury and settlement workflows, with controls such as dual‑approval, audit logging, passkeys, and allow‑lists aligned to existing risk and fraud frameworks. Key unresolved issues include how regulatory treatment, balance‑sheet accounting, and interoperability with non‑OUSD stablecoins and non‑Visa infrastructures will be handled as VSP moves from beta to broader deployment. [VISA]
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