- Visa launched a platform that allows institutions to issue and manage stablecoins.
- The service debuted with Open USD support, wallet infrastructure and blockchain tools.
- Circle shares fell about 5% as competition in the stablecoin market increased.
Visa expanded its blockchain-based payment strategy by launching a new enterprise platform built around Visa stablecoins services for banks, fintech companies and crypto firms. Announced on Thursday, the Visa-managed system allows institutions to issue, store, transfer and redeem stablecoins through one setup instead of combining several separate tools. The platform debuted with support for Open USD, a recently introduced stablecoin from Open Standard.
Visa said the service also connects with its existing payment network, allowing financial institutions to add stablecoin capabilities to treasury management, settlement and payment products without replacing their current systems. The launch strengthens Visa’s role in institutional digital asset infrastructure as competition among stablecoin issuers, distributors and payment providers continues to grow.
Visa stablecoins platform launches with Open USD
Visa said the new platform gives institutions one managed system for several core stablecoin functions. Users can issue tokens, hold them, transfer them and redeem them while accessing infrastructure connected to Open USD. The service includes minting and redemption tools as well as wallet technology for securely managing onchain assets.
The company positioned the platform as an enterprise product for banks, fintech firms and crypto companies rather than a direct consumer service. This approach shows that Visa stablecoins efforts are focused on helping institutions create payment, settlement and treasury products using blockchain rails while maintaining workflows that fit existing business operations.
Visa stablecoins tools support network integration
The platform includes Wallet-as-a-Service infrastructure, blockchain connectivity and security features designed for institutional use. These controls include dual-approval workflows, audit logs and transfer allow lists, giving firms additional oversight when managing stablecoin transactions and onchain assets.
Visa also integrated the service with its existing payment network. Financial institutions can therefore use Visa stablecoins infrastructure in treasury management, settlement and payment products without replacing their current systems. Jack Forestell, Visa’s chief product and strategy officer, said stablecoins are creating a new layer of programmable money, although many institutions still struggle with the operational requirements.
Open USD competition adds market pressure
Open Standard, the consortium behind Open USD, includes Visa, BlackRock, Alphabet and Coinbase among its backers. The project aims to attract banks, payment companies and crypto exchanges through a model that removes minting and redemption fees while returning nearly all reserve income to distribution partners. If the structure gains adoption, more stablecoin revenue could shift toward distributors rather than issuers.
This competitive environment has placed additional pressure on established companies. Circle, the issuer of USDC, saw its shares fall about 5% on Thursday. The source said Circle’s stock has faced pressure since Open Standard was unveiled, reflecting concern that new revenue-sharing structures could weaken the economics of major stablecoin issuers.
Visa stablecoins support a broader digital asset strategy
The platform builds on Visa’s wider digital asset strategy. The company already supports stablecoin settlement for selected partners, provides crypto-linked card programs and has expanded blockchain-based cross-border payment services. Visa stablecoins infrastructure is therefore another step toward bringing blockchain tools into mainstream financial products.
The source also highlighted wider market activity in June, when centralized exchange trading volumes increased for the first time in five months. Spot volumes rose 15.3% to $1.11 trillion, while real-world asset perpetual volumes reached a record $311 billion. These figures point to a market where digital asset competition and product development continue to accelerate.
Conclusion
Visa stablecoins moved further into institutional payments with the launch of a platform combining issuance, storage, transfers and redemptions in one Visa-managed system. The service debuted with Open USD support and includes wallet infrastructure, blockchain connectivity and security controls for banks, fintech firms and crypto companies.
Visa also connected the platform to its existing payment network, allowing institutions to add stablecoin functions without replacing current systems. The launch comes as Open Standard promotes a fee-free model that could redirect more stablecoin revenue toward distributors, increasing competitive pressure on Circle and other established issuers.
Disclaimer
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