Visa Launches Stablecoin Platform for Minting, Transfers, and Management

Key Insights:

• Visa launched VSP to help institutions mint, move, redeem, and manage stablecoins through one platform.
• The platform initially supports Open USD and includes Visa-managed Wallet-as-a-Service infrastructure.
• VSP is in beta with select clients and connects stablecoin activity to Visa’s payment and settlement tools.

Visa has launched the Visa Stablecoin Platform, or VSP, to help financial institutions, fintechs, and crypto companies run stablecoin operations through one managed system. The platform supports minting, transfers, storage, and redemption, starting with Open USD. Visa also adds wallet infrastructure through a Wallet-as-a-Service product and directly links the service with its payment, treasury, and settlement tools. The company has opened VSP for beta testing with selected clients before a wider release.

The latest stablecoin news places Visa deeper into institutional digital asset services. VSP gives clients one place to manage stablecoin activity while using Visa’s existing network, fraud controls and risk systems.

Financial firms can join a Visa-managed wallet setup or connect to the wallets they already operate. They can then handle minting, burning, holding, and transfers without building every part of the infrastructure on their own.

Visa designed the platform for banks, fintech firms, payment providers, and crypto-native companies that want to add stablecoins to existing products. Jack Forestell, Visa’s chief product and strategy officer, said many institutions understand programmable money but face operational barriers.

VSP addresses that gap by combining stablecoin tools, security controls, and access to Visa’s network in one environment. Clients can manage activity without separating blockchain tools from internal controls.

VSP starts with Open USD (OUSD), a stablecoin introduced by Open Standard. Visa connects the platform directly with Open Standard, allowing approved institutions to mint, burn, manage, and transfer the token. Clients can also bring fiat funds onchain and use OUSD across treasury, settlement, and liquidity workflows through the same operating setup. Visa plans to support those activities inside one managed interface.

The Open USD integration gives Visa clients a direct entry point into a new dollar-linked asset without separating wallet management from payment operations. Institutions can link bank accounts, set user permissions, and define policies for stablecoin movements.

Visa says the structure will help clients add digital dollar functions to systems that already support currency services, treasury activity, and settlement. The stablecoin news also reduces the number of separate tools institutions need.

Visa’s Wallet-as-a-Service offering provides the wallet infrastructure needed to hold and move stablecoins. The service includes secure passkeys, transfer allow lists, and operating workflows for institutional users. Clients can place these tools inside payment products, treasury systems, or settlement processes while keeping access rules and approvals within a managed framework.

VSP also uses dual-control approval for sensitive actions. One authorized employee starts a transaction, while another approves it before execution. The platform records activity through audit logs and lets institutions control which users can initiate or approve transfers.

These features support internal oversight as firms test stablecoin use across business units and payment flows.

Visa built VSP to work with its other stablecoin products, including stablecoin settlement, stablecoin-linked cards and digital asset money movement. The company says this connection gives financial firms tools for bringing blockchain-based payments into current operations.

Crypto platforms can also use the service to reach Visa’s global payment network through established integrations. Visa clients can link VSP with settlement and currency workflows.

Visa has limited the first beta phase to selected clients, including access to Wallet-as-a-Service. Participants will test use cases and provide feedback on how stablecoins fit into their strategies.

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