Visa Launches Stablecoin Platform to Provide Stablecoin Services to Over 2 Billion Merchants

BlockBeats News, July 16th. According to

, Visa has launched the Visa Stablecoin Platform, providing a one-stop stablecoin service for banks and fintech companies to help them integrate stablecoins into existing payment, settlement, and fund transfer systems. Visa hopes that this will allow its approximately 15,000 financial institutions and over 2 billion merchants to more easily use stablecoins.

Visa settles about $150 trillion in payments annually and has already processed stablecoin settlements in the billions of dollars. This platform will integrate Visa's existing stablecoin services, reduce the complexity of clients dealing with blockchain technology, and allow them to focus on the payment experience. Merchants using stablecoins can achieve real-time settlements and lower transaction costs.

The platform will use the stablecoin OUSD, launched by Open Standard two weeks ago, as the strategic starting point for infrastructure, while complementing Visa's support for USDC and USDG. Visa is a partner of Open Standard, and American Express and Mastercard are also involved in OUSD-related partnerships.