Visa Launches Stablecoin Platform Backing Open USD Consortium

On July 16, 2026, Visa Inc. launched the Visa Stablecoin Platform (VSP), providing financial institutions, fintechs, and cryptocurrency firms with a unified environment to mint, move, and manage stablecoins. The platform integrates digital asset capabilities with Visa's existing payment network, treasury, and fraud management tools. It specifically debuts with native support for Open USD (OUSD), a zero-fee stablecoin introduced by the Open Standard consortium.

The Open Standard coalition consists of over 140 companies, including Coinbase Global, Inc., BlackRock, Alphabet, Mastercard, Stripe, and Shopify. Unlike the USDC stablecoin managed by a single entity, OUSD is jointly managed by its members, who split the reserve income. Coinbase Global, Inc. joined the coalition on June 30 to reduce its reliance on USDC as its revenue-sharing partnership with Circle Internet Group is set to expire on August 18.

The launch of VSP and the emergence of OUSD caused Circle's shares to fall between 5% and 6%, as the new model threatens established stablecoin economics by eliminating minting fees. The VSP currently features Wallet-as-a-Service infrastructure and high-security tools such as dual-control approval workflows and audit logging. While currently available for beta testing with select clients, Visa intends to expand the platform's availability in the coming months to integrate stablecoins into broader treasury management and payment products.