Author: Visa
Compiled by: Deep Tide TechFlow
Deep Tide Guide: Visa officially launches the enterprise-level stablecoin platform VSP, providing financial institutions and fintech companies with one-stop services for stablecoin minting, transfer, and management. This marks that traditional payment giants are no longer just observing cryptocurrencies, but are starting to build the infrastructure for institutional clients to enter the stablecoin world, allowing them to operate on-chain assets using the familiar Visa security standards.
San Francisco — Today, Visa (NYSE: V) announced the launch of the Visa Stablecoin Platform (VSP), a new enterprise-grade platform designed to help financial institutions, fintech companies, and crypto-native enterprises access stablecoin functionality through a single Visa-managed environment.
Based on Visa’s broader crypto strategy, VSP provides financial institutions, fintech companies, and other payment service providers a straightforward way to access, store, and redeem stablecoins, starting with Open USD — a new stablecoin recently launched by Open Standard. This includes the on-chain wallet infrastructure offered through the newly introduced Wallet-as-a-Service product, as well as connectivity features for minting and burning Open USD.
“Stablecoins are ushering in a new layer of programmable money, but for most institutions, the challenge isn’t the concept — it’s the operational reality,” said Jack Forestell, Chief Product and Strategy Officer at Visa. “With the Visa Stablecoin Platform, we’re giving our clients a single place to mint, transfer, and manage stablecoin operations, while maintaining the control, security, and network coverage they already expect from Visa. This is how we help them turn their interest in stablecoins into real products and actual payment flows.”
The Visa Stablecoin Platform provides direct access to a range of stablecoin functionalities and processes, combined with Visa’s network, risk, and fraud prevention capabilities, enabling institutions to move more confidently from exploration to implementation. Specific features include:
Access to Open USD
VSP seamlessly integrates with Open Standard, providing institutions with direct access to Open USD, alongside Visa network services. This offers clients an easy way to mint, burn, manage, and transfer Open USD, bringing fiat currency on-chain and managing processes within the environment they already trust.
On-Chain Wallet Infrastructure
VSP packages the wallet infrastructure, controls, and workflows needed to make stablecoins usable for real-world fund management, settlement, and product ecosystems, across a range of institutional use cases.
Integration into the Visa Network
VSP is designed to connect stablecoins to Visa’s network and tools, allowing users to embed stablecoin functionality into existing payment processes, fund management operations, and settlement flows. For existing Visa clients already using Visa for settlement, fund management, and currency solutions, VSP provides direct interoperability, enabling seamless integration of stablecoins into the workflows and systems they rely on today.
Built for Trust from Day One
VSP enables institutions to interact with stablecoin processes using the same security and trust standards that Visa is known for. Users will have access to features such as dual-control approval workflows, where one user initiates a sensitive operation and a second authorized user must approve it; comprehensive audit logs; and secure keys and allowlists for Wallet-as-a-Service functionality to control transfers, helping to deliver the level of security and control they need for their operations.
VSP is interoperable with Visa’s existing stablecoin offerings, including stablecoin settlement, stablecoin-linked cards, and stablecoin fund transfers. Together, these features provide a comprehensive suite of solutions to help financial institutions and fintech companies go on-chain and enable crypto platforms to access Visa’s global network.
How to Get Started
Onboarding and Operations: Institutions can join Visa’s managed wallet stack or connect existing wallets, creating a single hub to manage stablecoin minting, burning, and transfer activities.
Connect Bank Accounts and Controls: Clients can link bank accounts and configure approvals, users, and policies to manage who can initiate and approve stablecoin transfers.
Mint, Transfer, and Manage Stablecoin Operations: From the start, VSP supports minting, redeeming, holding, and transferring stablecoins, beginning with Open USD, as part of fund management, settlement, and liquidity workflows.
VSP, including Wallet-as-a-Service, will initially be available to select customers in a Beta test, providing early opportunities to explore how stablecoins can fit into their strategies. As customers test and refine use cases, Visa will use these learnings to guide how and where the platform expands to broader market availability.
Visa (NYSE: V) is a global leader in digital payments, facilitating transactions among consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payment network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone, everywhere, uplift everyone everywhere, and see access as fundamental to the future of money movement. Learn more at Visa.com.
