TechFlow reports, July 16, according to Fortune, Visa announced the launch of the Visa Stablecoin Platform, providing banks and fintech companies with a stablecoin processing system that can be embedded into existing payment and treasury management processes, helping institutions manage stablecoin operations within the existing Visa infrastructure. Visa stated that it processes approximately $15 trillion in payments annually and has completed billions of dollars in stablecoin settlements. It hopes to enable its approximately 15,000 financial institution clients and over 200 million merchants to access stablecoin services through this more simplified platform.
The platform will initially support the stablecoin OUSD recently launched by the Open Standards Alliance, complementing stablecoins such as USDC and Global Dollar currently supported by Visa. Visa stated that the platform will integrate its existing stablecoin-related services, focusing on reducing technical complexity to make it easier for customers to incorporate stablecoins into payment settlement and fund flow systems. Meanwhile, major payment companies such as Mastercard and American Express are also accelerating their deployment around stablecoin infrastructure.
