Payment company Visa has introduced the Visa Stablecoin Platform (VSP) for stablecoin operations, aimed at banks and fintech companies.
The platform supports issuance, redemption, storage, and transfer of assets within a single interface. The product also includes Wallet-as-a-Service, where Visa hosts and maintains the wallet infrastructure, and clients connect via API. Access is secured with access keys, and transfers are protected by a whitelist of approved addresses. Sensitive operations require confirmation from a second user.
Visa’s Chief Product and Strategy Officer Jack Forestell believes this will remove the main barrier for large organizations—operational implementation of stablecoins.
In its initial phase, VSP operates with the stablecoin Open USD from the Open Standard consortium, which includes Visa. The token has no issuance or redemption fees, with reserve income going to partners. Additionally, the platform supports USDC from Circle and USDG from Paxos.
Visa is steadily expanding its stablecoin infrastructure. In November 2025, the company introduced a pilot project, Visa Direct, allowing US clients to transfer USDC to recipient wallets. A month later, the firm launched stablecoin settlements with Circle for US banks.
In March 2026, Visa and the Stripe-owned infrastructure stablecoin platform Bridge announced an expansion of the stablecoin card program. The product, introduced in 2025, operates in over 100 countries.
The payment giant is also actively engaged in developing AI payments. Visa representatives believe that adopting new technologies and openness to partnerships help the company remain a leader in transforming global commerce.
In July, the company, in collaboration with Animoca Brands, launched a pilot version of AI-based services for the Minds marketplace.
