Visa launched a stablecoin platform for banks — ForkLog

# Visa launches stablecoin platform for banks

Payments company Visa has introduced VSP, a platform for operations with “stablecoins” designed for banks and fintech companies.

The platform supports issuing, redeeming, storing, and transferring assets in a single interface. The product also includes Wallet-as-a-Service—Visa hosts and maintains the wallet infrastructure, while clients connect to it via API. Access is protected by access keys, and transfers are restricted by an allowlist of addresses. Sensitive operations require confirmation from a second user.

Visa’s Director of Product and Strategy, Jack Forestell, believes it will remove the main barrier for large organizations—operational adoption of stablecoins.

In the first phase, VSP works with Open USD, a “stablecoin” from the Open Standard consortium, which also includes Visa. The token has no issuance or redemption fees—the revenue from reserves goes to partners. In addition, the platform offers USDC from Circle and USDG from Paxos.

Visa is steadily expanding its stablecoin infrastructure. In November 2025, the company unveiled a Visa Direct pilot that allows U.S. customers to transfer USDC to recipients’ wallets. A month later, it launched Circle stablecoin settlement for U.S. banks.

In March 2026, Visa and Bridge, the stablecoin infrastructure platform owned by Stripe, announced an expansion of the stablecoin cards program. First introduced in 2025, the product operates in more than 100 countries.

The payments giant is also actively involved 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.

Recall that in July, the firm, together with Animoca Brands, launched a pilot version of AI-based services for the Minds marketplace.