Visa launched the Visa Stablecoin Platform, an enterprise system for financial institutions built around the Open USD (OUSD) stablecoin. The platform provides stablecoin services to more than 200 million merchants and includes a Wallet-as-a-Service offering currently in beta testing with select clients. Open USD, unveiled on June 30 by the Open Standard consortium of over 140 companies including Visa, Mastercard, Stripe, Coinbase, and BlackRock, distinguishes itself by routing reserve yield to distribution partners rather than to a single issuer. The launch positions Visa as a distribution and operations layer for this consortium-backed token, expanding on its existing crypto services including USDC settlement and an institutional tokenization platform.
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