Visa Introduces Platform for Stablecoin Minting, Movement and Management

By Doc LouallenVisa is introducing its Visa Stablecoin Platform, a platform that lets financial institutions, fintechs and other payment providers mint, move and manage stablecoins in one place.The platform starts with Open USD, a new stablecoin from Open Standard, and gives clients tools to mint and burn it. It also offers wallet services.Jack Forestell, Visa's chief product and strategy officer, said firms understand stablecoins but struggle with operations. He said the goal is to turn interest in stablecoins into real products and real payment flows.Clients can link bank accounts, set user approvals and policies, and manage mint, burn and transfer activity in a single environment. Security features include dual-control approvals, audit logs, passkeys and allow lists for transfers.The platform works with Visa's other stablecoin efforts, including settlement, stablecoin-linked cards and money movement. Existing Visa clients can connect current wallets or use a Visa managed wallet stack.Visa operates in more than 200 countries and territories. The company says its mission is to connect the world through a reliable and secure payments network.Write to Doc Louallen at [email protected]