Visa Launches Stablecoin Platform Centered on Open USD

The Monetary Authority of Singapore launched BLOOM — Borderless, Liquid, Open, Online, Multi-currency — on Oct. 16, 2025, building on its Project Orchid work on digital money infrastructure. The initiative is designed to connect conventional payment systems with tokenised bank liabilities and regulated stablecoin rails. The effort matters because cross-border settlement still depends heavily on banking hours, business-day calendars and intermediary networks, creating delays and liquidity costs for financial institutions.

Visa said on Aug. 25, 2026, that it had joined BLOOM and selected cross-border payments company Nium as its first partner for a stablecoin settlement pilot. The companies will test settlement seven days a week, including weekends and public holidays, using regulated stablecoins denominated in major currencies such as the U.S. dollar and euro. Visa said the arrangement could reduce delays and give participating institutions faster access to funds. No transaction value, specific stablecoin, payment corridor, launch schedule or completion date was disclosed.

Stablecoins are emerging as settlement rails for cross-border payments and institutional transactions, intensifying competition among Visa, Mastercard and Stripe for infrastructure and liquidity access. Stripe agreed in October 2024 to buy stablecoin platform Bridge for $1.1 billion, while Mastercard’s acquisition of BVNK further narrowed the pool of established providers available to Visa. The deals underscore how traditional payment networks are seeking deeper control over crypto-native capabilities rather than relying solely on card-based systems.

Visa is now actively seeking a new stablecoin settlement partner following BVNK’s sale to Mastercard, according to the latest reports. The company has also launched a stablecoin platform that allows financial institutions and payment providers to access and settle digital currencies. No prospective partner, transaction value or completion date was disclosed, suggesting the search remains at an evaluation stage as Visa moves to keep pace with rivals expanding through acquisitions.

Visa Direct is Visa’s global money-movement platform, connecting businesses to eligible cards, bank accounts and digital wallets. Adding stablecoin rails could make cross-border payouts available beyond conventional banking hours, give corporate clients more flexibility in managing liquidity and allow recipients to receive dollar-denominated digital assets without relying solely on local banking infrastructure.

Visa announced its collaboration with Zerohash on Aug. 5, 2026, enabling eligible Visa Direct clients to prefund accounts with stablecoins and distribute payouts in the digital tokens. Zerohash will provide infrastructure spanning liquidity, settlement and regulatory compliance, while Visa supplies the distribution network. Visa Direct connects to more than 18 billion eligible endpoints across cards, bank accounts and digital wallets.

Stablecoins are expanding from crypto trading into cross-border payments and institutional settlement, raising the prospect that blockchain rails could complement or bypass traditional card networks. Circle designed Arc as an enterprise-focused Layer 1 blockchain with USDC as its native gas asset and a permissioned validator set at launch. The project matters because bringing Visa, Mastercard and major financial institutions into network operations could give regulated firms a direct role in shaping stablecoin infrastructure. USDC circulation stood at $77.0 billion on March 31, 2026.

Circle on Aug. 5, 2026 named Visa and Mastercard among Arc’s 11 founding institutional validators, alongside BlackRock, Depository Trust & Clearing Corporation, Galaxy, Global Payments, Intercontinental Exchange, MoneyGram, SBI Group, Standard Chartered and Sumitomo Corporation. The public mainnet is scheduled to launch on Sept. 16, following private-mainnet work with more than 100 ecosystem and institutional builders. Circle expects the validator group to expand to 20 to 40 operators over time, deepening both card networks’ involvement in stablecoin infrastructure while preserving their ability to support competing digital-asset ecosystems.

Stablecoins are moving beyond crypto trading into cross-border payments, treasury management and round-the-clock settlement, pushing card networks to define their role in onchain finance. Visa is positioning itself as an interoperability layer rather than a stablecoin issuer, linking fiat money, blockchains, wallets and its global merchant network. The strategy matters because preserving Visa’s network effects and service revenue will depend on remaining essential as payment infrastructure becomes programmable.

On July 28, 2026, Chief Executive Ryan McInerney told Visa’s fiscal third-quarter earnings call that the company had invested across blockchain, wallet and infrastructure layers, saying its role was “not to pick winners.” Visa joined Open Standard and on July 16 launched a platform initially supporting Open USD. It plans to connect Pismo for tokenized deposits and AI-driven commerce. Visa’s settlement pilot spans nine blockchains and was running at an annualized $7 billion, up 50% quarter on quarter.

Visa has tested stablecoin settlement using USDC on Ethereum since 2021, allowing issuers and acquirers to settle VisaNet obligations over blockchain networks. The model could overcome the constraints of banking hours and cross-border transfers, providing a supplementary settlement channel for traditional payment networks.

Visa said on April 29, 2026, that it had added Arc, Base, Canton, Polygon and Tempo. Together with Avalanche, Ethereum, Solana and Stellar, the additions brought the number of supported networks to nine. Its annualized settlement run rate reached $7 billion, up 50% quarter on quarter. On June 4, Visa also began testing privacy-controlled institutional settlement on Canton with Brale using the US dollar stablecoin SBC.

Stablecoins use fiat-currency reserves to maintain their value and can move cross-border payments and settlement onto blockchains. Stripe completed its $1.1 billion acquisition of infrastructure provider Bridge in February 2025. Connecting that business with Visa and Mastercard’s global merchant and settlement networks could challenge a market dominated by Circle and Tether.

CoinDesk, citing three people familiar with the matter, reported on June 3, 2026, that Stripe, Visa and Mastercard were preparing to back a soon-to-debut stablecoin platform, with Coinbase also considering joining. The parties have yet to disclose the platform’s name, issuance size or launch date, and the planned collaboration has not been officially confirmed.

Stablecoins can move quickly onchain, but users still need regulated accounts, card issuance and merchant networks for everyday purchases and cross-border payments. Visa is therefore partnering with WeFi, co-founded by Tether co-founder Reeve Collins, to connect DeFi with traditional payments infrastructure and target underbanked populations worldwide.

Visa and WeFi announced the partnership on April 28, 2026. They plan to offer onchain accounts with IBANs and stablecoin payment services, initially rolling them out region by region in selected markets across Europe, Asia and Latin America. The companies did not disclose the value of the partnership or an exact launch date. Further expansion will depend on local regulatory approvals, licensing and card-issuing partners.

Stablecoins maintain their value through fiat-backed assets and can reduce the time and cost of cross-border transfers, but everyday spending requires connections to card issuance, settlement and merchant networks. Stripe completed its $1.1 billion acquisition of Bridge in February 2025. Visa's partnership with the infrastructure platform effectively connects onchain funds to the global card-payment system.

Visa announced an expanded partnership with Bridge on March 3, 2026. Stablecoin-linked cards are already operating in 18 countries and are expected to expand to more than 100 countries across Europe, Asia-Pacific, Africa and the Middle East by the end of 2026. Bridge has also joined Visa's onchain settlement pilot through Lead Bank, allowing Phantom and MetaMask users to spend stablecoins directly on everyday purchases.

Quantoz Payments is a subsidiary established in 2021 by Dutch company Quantoz N.V. It is licensed as an electronic money institution by the Dutch central bank and issues the USDQ dollar stablecoin and the EURQ and EURD euro stablecoins in the European Economic Area. The Visa partnership is intended to bring MiCAR-regulated digital currencies, backed 1:1 by fiat currency and highly liquid assets, into everyday payments.

Quantoz Payments said on February 25, 2026, that it had become a direct principal member of Visa, enabling it to issue virtual Visa debit cards and provide BIN sponsorship to third-party fintech companies and platforms. Customers will be able to spend at merchants that accept Visa and through Apple Pay and Google Pay. Technical integration is still underway, while the value of the partnership and launch date have not been disclosed. The company must also maintain a 2% reserve on its balance sheet.