Visa is seeking a new crypto stablecoin partner to expand global settlements, following the acquisition of its previous partner BVNK by rival Mastercard. The payments giant recently launched the Visa Stablecoin Platform for financial institutions. Visa is looking for one settlement partner and one over-the-counter partner that hold crypto exchange licenses in the U.S., Canada, the United Kingdom, and Singapore. This regulatory focus is deliberate, as stablecoins represent a $286 billion market. Visa’s move comes amid growing competition among traditional payments firms to integrate digital assets.
Credit card company Visa is seeking a new crypto stablecoin partner to help expand settlements globally, according to a report. This comes shortly after its previous partner in the space, BVNK, was acquired by rival Mastercard.
Last month, Visa launched the Visa Stablecoin Platform, giving financial institutions and fintechs a dedicated enterprise platform for stablecoin access and management. After cutting its deal with BVNK, Visa now wants a new stablecoin platform to continue advancing global settlements with digital assets.
Visa is said to be looking for one settlement and one over-the-counter partner that has secured crypto exchange licenses in the U.S., Canada, the United Kingdom, and Singapore. These four markets represent some of the most tightly regulated crypto environments in the world, and few firms can claim clean licensing across all of them simultaneously.
That is a deliberate filter, not an accident. Visa appears to be prioritizing regulatory coverage over speed, betting that a fully licensed partner will reduce compliance friction as stablecoin volumes scale.
Stablecoins are emerging as a key area of competition among traditional payments giants. The market is now worth about $286 billion, according to data tracked by CoinGecko.
In a related development, Citi is set to launch Bitcoin custody for institutional clients.
