Visa Launches Stablecoin Platform for Institutions, Supports OUSD Issuance and Management

According to a Visa statement on July 16, the global payments company launched the Visa Stablecoin Platform (VSP), an enterprise platform enabling financial institutions, fintech firms, and payment service providers to issue, redeem, hold, and transfer stablecoins within a single environment.

The VSP adopts OUSD (OpenUSD), developed by Open Standard, as its supported asset. Institutions can mint or burn OUSD, and leverage wallet-as-a-service functionality to create and manage on-chain wallets for treasury operations, payments, and liquidity management. The platform integrates with Visa's existing network and settlement solutions, allowing current customers to add stablecoin capabilities to their operations. Visa is currently conducting beta testing with select customers.