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

BlockBeats News, July 16th, according to Fortune report, Visa has launched a stablecoin platform to provide a one-stop stablecoin service for banks and fintech companies, helping them integrate stablecoins into existing payment, fund settlement, and money circulation systems. Visa hopes to enable its approximately 15,000 financial institutions and over 200 million merchants to use stablecoins more conveniently.

Visa settles about $150 trillion in payments annually and has currently processed stablecoin settlements in the scale of billions of dollars. This platform will integrate Visa's existing stablecoin services, reduce the complexity for clients to deal with blockchain technology, allowing them to focus on the payment experience. Merchants using stablecoins can achieve instant settlement and lower transaction costs.

The platform will use the stablecoin OUSD launched by Open Standard two weeks ago as the strategic starting point of the 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 collaborations.