The company’s request for product focuses on finding a single provider capable of managing institutional liquidity, multi-coin swaps, and settlement services across four major financial jurisdictions. By seeking a partner with broad regulatory coverage, Visa aims to move away from a patchwork of regional agreements toward a unified infrastructure model. This mandate specifically includes support for Open USD, a stablecoin initiative backed by a consortium of industry leaders, including Visa, Mastercard, and Coinbase.
In section Cryptocurrency
Visa Scours Market for New Stablecoin Settlement Partner
Visa has launched a confidential search for a new stablecoin settlement and over-the-counter provider, looking to secure a firm licensed across the U.S., Canada, the U.K., and Singapore. The move follows Mastercard’s recent acquisition of BVNK, the infrastructure firm that previously handled these critical payment services for the payment giant.
While Visa maintains a partnership with ZeroHash for stablecoin payouts, that arrangement does not encompass the full scope of licensing and geographic reach required for this new initiative. The search also appears independent of the company's internal Visa Stablecoin Platform, which launched in July to assist institutions with the lifecycle of digital assets. Visa has declined to comment on the request, and no public timeline exists for the selection of a new partner. The successful candidate will need to bridge the gap left by BVNK, which was absorbed into Mastercard’s operations on August 3 in a deal valued at up to $1.8 billion.
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