Visa launches a stablecoin platform, providing stablecoin services for over 200 million merchants

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BlockBeats, July 16, according to Fortune, Visa has launched a stablecoin platform, providing banks and fintech companies with a one-stop stablecoin service, and helping them integrate stablecoins into their existing payment, fund settlement, and fund transfer systems. Visa aims to make it easier for its roughly 15,000 financial institutions and more than 200 million merchants to use stablecoins.

Visa settles about $150 trillion in payments every year, and has already handled stablecoin settlements on a scale of billions of dollars. The platform will integrate Visa’s existing stablecoin services, reducing the complexity for customers in dealing with blockchain technology, so they can focus on the payment experience. Merchants can achieve instant settlement with stablecoins and reduce transaction costs.

The platform will use OUSD, the stablecoin infrastructure launched by Open Standard two weeks ago, as its strategic starting point, while also adding USDC and USDG, which Visa has already supported. Visa is a partner of Open Standard, and American Express and Mastercard are also involved in OUSD-related collaborations.

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