VISA STABLECOIN PLATFORM EXPLAINER: WHY VISA LAUNCHED WITH OPEN USD

Summary from the TLDR Crypto newsletter

The new Visa Stablecoin Platform (VSP) lets banks and fintechs mint, burn, and manage stablecoins through a single Visa-run environment, launching with Open USD because banks trust bank-governed stablecoins over Circle or Tether. EY Parthenon found 63% of corporates want stablecoin access via their own bank. VSP supports Ethereum, Solana, and Tempo with maker/checker controls, passkey signing, and wallet-as-a-service, mirroring how Visa DPS lets thousands of issuers process debit without building their own infrastructure. Visa's approach of not picking winners will scale quickly since every participating bank becomes invested in the network's growth.