Visa launches its stablecoin service platform VSP, providing stablecoin services for more than 200 million merchants

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PANews, July 16 — According to Fortune, Visa has announced the launch of the Visa Stablecoin Platform (VSP), aiming to help banks and fintech companies integrate stablecoin services into existing payment and treasury management processes. Visa processes about $15 trillion in payments per year. It has already processed stablecoin settlements worth billions of dollars and hopes to further expand this scale by offering easier ways to use stablecoins for around 15k financial institutions and more than 200 million merchants. The platform will serve as a unified infrastructure for its stablecoin services, supporting functions such as stablecoin payments, fund transfers, and settlement. The platform’s first release will support the new stablecoin OUSD, introduced by the Open Standard Alliance, and will continue to be compatible with stablecoin assets such as USDC and USDG.
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