Visa announced the launch of a new platform of stable currency services to open access to financial institutions, financial technology companies and encrypted start-ups. The company disclosed that the platform was centrally managed by Visa and that the goal was to connect stable currency capacity to more mature payment, financial and settlement processes and to serve its network of over 200 million businesses.
Platform covers casting and transfer
According to company disclosures, Visa Stablecoin Platform provides a one-stop access to support the foundry, transfer and management of stable currency and integrates the existing network, wind control and anti-fraud capabilities of Visa. Visa indicated that the Platform wanted to help agencies move from the testing and exploration phase to actual deployment.
- To financial institutions such as banks
- Covers financial technology companies and encryption companies
- Support stable currency operation and payment connection
Mainly, it's an agency-level security control.
In its presentation, Visa highlighted the Platform ' s security and authority management capabilities. According to the company, the platform supports a dual approval process, whereby one user initiates a sensitive operation, with the approval of another authorized user. The platform also provides audit logs and related Wallet-as-a-Service features, including security keys and white transfer lists.
These capabilities are primarily oriented towards institutional use. According to Visa, the Platform integrates wallet infrastructure, rights control and operating processes to facilitate access to the enterprise ' s financial, settlement and product systems, making stable currency more accessible to real business processes.
Access to Open USD and Visa networks
Corporate disclosures indicate that the platform has access to Open USD standards and that customers can complete the casting, destruction, management and transfer of Open USD in the Visa service environment. According to Visa, this provides the agency with a way of bringing French money to the chain, while continuing to manage processes in familiar systems.
The platform also plans to communicate with Visa's existing payment network. For clients already using Visa settlements, financial and monetary solutions, the platform will provide direct interoperability capabilities so that stable currency can be embedded in existing payment processes, financial operations and settlement systems.
Visa has been making steady progress in currency operations in recent months.
Visa has expanded the stable currency layout in recent months. In March, Visa became the first major payment company to join Canton Network and act as a super-certificator, with a role to help banks handle payments, settlements and financial transactions on the private-oriented block chain network.
In April, Visa extended the stabilization currency settlement plan to Base, Polygon, Canton, Arc and Tempo, bringing the total number of block chain networks supported to 9. The launch of the stand-alone platform demonstrated that it was moving from a collaborative pilot to a standardized product phase of stabilization operations.