Visa Launches Stablecoin Platform for Banks

Visa has launched the Visa Stablecoin Platform (VSP), enabling banks and fintech companies to issue, redeem, store and transfer stablecoins through a single interface with wallet hosting and API connectivity. The platform initially supports Open USD, USDC and USDG, with no issuance or redemption fees. Visa just became the stablecoin infrastructure layer banks were building themselves. If you're selling wallet tech, compliance tooling, or settlement rails to financial institutions, your customer now has a free alternative from the company that controls the payment network.