Visa backs Open USD with new stablecoin platform as Circle faces fres…

Visa launched the Visa Stablecoin Platform, enabling banks and fintechs to issue, manage and settle Open USD stablecoins through its payments network. Circle's stablecoin dominance faces direct competition as Visa integrates stablecoin issuance into its existing payment infrastructure. If you build stablecoin or treasury infrastructure for banks, Visa just became your distribution channel and your competitor at once. Your customer (the bank) now has a Visa-backed issuance option built into the network they already use—you need to move upmarket or move sideways into a problem Visa won't solve.