Visa is further integrating stable currency services into its own payment network. The company announced the launch of Visa Stablecoin Platform to provide an internal system for banks and financial technology companies to handle stable currency transactions in the existing Visa payment, liquidation and fund management processes.

This move shows that the mainstream payment network is accelerating the move from a pilot tool to a more standardized commercial service. Visa handles payments of approximately $15 trillion a year. According to the company, multi-billion-dollar stable currency settlements are now being processed, and it is hoped that new platforms will make such services more accessible to more institutions and businesses.

Access to banks and businesses

According to Visa, the new platform mainly serves its existing customer network, including about 15,000 financial institutions and over 200 million businesses. Unlike the simple provision of a stable currency path, the system places greater emphasis on the interface with existing bank accounts, funds transfers and enterprise financial processes.

For businesses, the attraction of a stable currency lies mainly in the speed and cost of settlement. Related transactions can be carried out along the chain, with clearer records. The idea behind Visa is to hide the complexity of the bottom-up technology as much as possible, so that customers can use a stable currency without changing their existing payment experience.

Initial access to ODS

The new platform will start with OUD. OUSD is the new stabilization currency project announced two weeks ago by Open Standard. Open Standard is made up of large financial institutions, and Visa is one of its partners.

According to Visa, OUSD could supplement its existing range of stable currency support. Before, Visa had supported USDC and Paxos USDGs issued by Circle. With the launch of the new platform, Visa plans to integrate these existing stable currency services into a unified framework.

  • First strategic access assets: ODS
  • Supported stabilization currency: USDC, USDG
  • Target client coverage: financial institutions and large business networks

Pay the giant to speed up the layout.

Visa is not the only paying company to bet stable currency. American Express and MasterCard have also established cooperation around OUSD with Open Standard.

Last month, the MasterCard also announced the inclusion of a stable currency in the bank card transaction settlement option, with the first six regulated United States dollar stabilization currencies supported. The way forward is more cooperative, including working with platforms such as MoonPay, and joining the Global Dolar network of Paxos.

In terms of the industry rhythm, payment companies are introducing stabilization currency from encrypted original scenarios into broader payment infrastructure. As banks, payment agencies and commercial access thresholds fall, the use of stable currencies in cross-border transfers, business receipts and institutional liquidations may continue to expand.