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Visa has outlined a stablecoin strategy spanning blockchains, issuance, wallets, settlement infrastructure and payment applications, positioning digital dollars as part of its future payments stack.
CEO Ryan McInerney said during the company’s July 28 fiscal third-quarter earnings call that Visa intends to remain “multi-coin, multi-chain” rather than back a single stablecoin or network.
OpenUSD Will Not be Visa’s Exclusive Stablecoin
Visa recently joined Open Standard, whose partners plan to launch OpenUSD as a stablecoin focused on global money movement. OpenUSD will also be the first asset supported by the new Visa Stablecoin Platform.
McInerney said the partnership does not mean Visa intends to make OpenUSD its exclusive stablecoin. The company wants clients to connect to whichever regulated coins, networks, and infrastructure gain adoption.
Visa Settlement Program Supports Nine Blockchains
Visa’s existing stablecoin settlement program already supports nine blockchains. Those networks include Ethereum, Solana, Avalanche, Stellar, Base, Polygon, Arc, Canton, and Tempo.
The program had reached a $7 billion annualized settlement run stablecoin Visa recently joined Open Standard, whose partners plan to launch OpenUSD as a stablecoin focused on global money movement.
Stablecoin Platform Starts With OpenUSD Minting and Wallets
Visa’s existing stablecoin settlement program gave it an existing blockchain settlement base as it builds out new stablecoin tools for institutions, fintechs, and crypto businesses.
The Visa Stablecoin Platform was introduced on July 16 for beta testing with selected clients. The platform provides a Visa-managed environment for storing, transferring and redeeming stablecoins.
It also includes wallet-as-a-service infrastructure and connectivity for minting and burning OpenUSD. Participating institutions will be able to move funds between fiat currencies and stablecoins and settle obligations with Visa using supported digital assets.
Pismo Integration Could Enable Tokenized Bank Deposits
Visa plans to integrate the stablecoin platform with Pismo, the banking infrastructure company it acquired in 2024.
That connection could allow banks to issue tokenized deposits while keeping customer funds on their own balance sheets.
The integration has not received a full rollout date.Visa has also not confirmed which banks will use the tokenized deposit feature first.
More Than 160 Stablecoin-Linked Card Programs Are Live or Planned
Visa is expanding stablecoin-linked cards and blockchain settlement alongside its existing card network. More than 160 stablecoin-linked card programs are live or under development globally. Selected issuers already settle with Visa seven days a week using blockchain infrastructure.
The stablecoin push comes as Visa reported fiscal third-quarter net revenue of $11.6 billion, up 14% from a year earlier. Payments volume reached $4 trillion for the first time in a single quarter.
Visa has not provided a full launch date for its stablecoin platform or the Pismo tokenized deposit integration. The next steps include expanding platform testing, supporting OpenUSD when it launches and adding more institutional users to blockchain settlement.
