Credit card company Visa (V) is seeking a new crypto stablecoin partner to help expand settlements globally, according to a Yahoo Finance report. This comes shortly after its previous partner in the space, BVNK, was acquired by rival Mastercard (MA).
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.
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According to Visa’s request for product, the ideal partner must hold cryptocurrency exchange licenses across these four countries. 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’s 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.
