Visa launched the Visa Stablecoin Platform (VSP), an enterprise platform designed to allow financial institutions, fintechs and payment operators to mint, transfer and manage stablecoins from a single environment administered by the company.
The platform supports Open USD (OUSD), the stablecoin recently introduced by Open Standard, and incorporates onchain wallet infrastructure through a Wallet-as-a-Service offering.
Visa’s Chief Product and Strategy Officer, Jack Forestell, noted that the biggest obstacle to institutional stablecoin adoption is not conceptual but operational. VSP aims to solve that problem by offering OUSD minting and burning capabilities, dual-approval controls for sensitive flows, audit logs and allowlists for transfer management, all integrated with the settlement, treasury and fraud detection systems the firm already operates at global scale.
The platform is interoperable with the company’s existing stablecoin solutions, including stablecoin settlement, linked cards and fund movement, consolidating a complete stack for onchain operations. VSP is currently in beta with selected clients, targeting general availability in later stages.
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