Visa unveils new enterprise stablecoin platform

Visa (V) announced the Visa Stablecoin Platform (VSP) on July 16, 2026 as a new enterprise-focused environment for stablecoin activity. The platform is designed for financial institutions, fintech companies and crypto-native firms that want to access stablecoin capabilities through a single, Visa-managed system. By centralizing key tools, VSP aims to support core financial operations such as treasury, settlement and liquidity management using stablecoins.

From launch, VSP supports a range of functions around stablecoins, including minting, redeeming, holding and transferring. These activities are intended to be embedded in clients’ internal workflows so that stablecoins can be integrated into existing financial processes. The platform is also set up to connect stablecoin flows into Visa’s broader network and tools.

VSP initially supports Open USD (OUSD), a dollar-backed stablecoin introduced by the Open Standard consortium. Through the platform, clients can directly access Open USD, with connectivity for minting and burning the stablecoin as part of their operations. This integration is positioned as the first step in enabling broader stablecoin connectivity within Visa’s ecosystem.

The Open USD support is embedded into VSP’s wallet infrastructure, allowing clients to manage their OUSD balances for multiple use cases. These include using OUSD in settlement flows, managing liquidity across accounts and supporting stablecoin-based transfers.

A core component of VSP is its onchain wallet infrastructure, which is offered as a Wallet-as-a-Service solution. This package provides clients with managed wallets that can interact with supported stablecoins, beginning with Open USD. The service is designed to handle the technical aspects of onchain operations while giving enterprises tools to control how funds move.

VSP’s infrastructure is structured to integrate stablecoins into existing Visa offerings. It is interoperable with services such as stablecoin settlement, stablecoin-linked payment cards and stablecoin-based money movement. This alignment allows clients to connect their onchain stablecoin activity with familiar Visa products.

The platform includes a set of enterprise controls aimed at managing risk and governance around stablecoin movements. One key feature is dual-control approval workflows, where one user initiates a sensitive action and another authorized user must approve it before execution. This structure supports separation of duties in high-value or high-risk operations.

VSP also offers comprehensive audit logging, secure passkeys for authentication, and allow lists to specify which destinations are permitted for transfers. Clients can link bank accounts to the platform and configure approval policies that determine who can initiate and approve stablecoin movements. These capabilities are intended to give organizations detailed oversight of their onchain activity.

Visa is initially making VSP available in a beta program with select clients. These early adopters gain access to the Wallet-as-a-Service and the Open USD connectivity under controlled conditions. The beta phase is intended to test how the platform performs in real-world institutional settings.

Insights and feedback from this testing period will guide decisions on scaling VSP to a wider customer base. Visa has indicated that broader availability will be informed by what is learned during the initial rollout, including how clients use stablecoins for treasury, settlement and liquidity workflows, and how the enterprise controls function in practice.