Visa launches Stablecoin Platform for banks and fintechs

Visa has launched the Visa Stablecoin Platform, a Visa-managed enterprise service that lets banks, fintech companies and crypto-native firms mint, redeem, transfer and hold stablecoins. The platform launches with support for Open USD and is in beta with selected clients.

The platform provides a Visa-operated environment for institutions to handle stablecoin operations and connect tokens to existing payment, treasury and settlement systems. Institutions can mint and burn tokens, move balances on-chain, and redeem tokens back to fiat or other assets.

Visa offers a Wallet-as-a-Service so clients may use Visa’s on-chain wallet infrastructure instead of building their own custody and wallet operations. Firms can link existing wallets to the platform to perform minting, redemptions, transfers and holding as part of treasury and liquidity management.

The platform integrates with Visa’s payment network and current treasury and settlement services, allowing stablecoins to be used in settlement and payment workflows alongside traditional rails. Security and operational controls include dual-approval workflows, audit logging, passkeys and allow lists to restrict and monitor transactions.

Visa expects the platform to work with its other stablecoin services, including stablecoin settlement, stablecoin-linked cards and stablecoin money movement, giving institutions a single operational framework for blockchain-based assets.

Visa has been building stablecoin and blockchain payment capabilities through pilots and commercial services for several years. The new platform adds operational infrastructure for minting, wallet management and treasury controls while providing an early institutional integration for Open USD.