Exclusive: Visa launches new platform to provide stablecoin services to more than 200 million merchants
Visa is expanding its cryptocurrency footprint by launching a stablecoin platform for institutional use and over 200 million merchants.
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The brief
Visa has introduced an enterprise stablecoin platform designed for institutional minting and management. This new service aims to provide stablecoin capabilities to more than 200 million merchants.
Coverage from Bloomberg, Fortune, and CoinDesk emphasizes that Visa is backing a stablecoin called Open USD. This move has placed new competition on Circle, and reports from TradingView indicate that stocks for COIN and CRCL dropped following the announcement.
Future developments involve the integration of Open USD and the broader impact of Visa's institutional crypto push on existing market competitors.
Synthesized by Archynetys from the headlines below under a strict no-invention contract. ✓ fact-checked: all claims supported by sources Updated 1h ago.
Quick answers
What is the name of the stablecoin Visa is backing?
Visa is backing Open USD.
How many merchants will have access to these services?
The platform will provide services to more than 200 million merchants.
Which stocks were affected by this announcement?
CRCL and COIN stocks dropped according to TradingView.
Coverage (8)
- Visa Introduces Platform for Stablecoin Minting, Movement and Management Visa - Investor Relations · 6h ago
- Visa Rolls Out A Stablecoin Platform As Data Stays Strong Finimize · 6h ago
- Visa launching internal stablecoin platform for clients that provides access to OUSD: report The Block · 6h ago
- Visa Launches Enterprise Stablecoin Platform for Institutional Minting and Management FF News · 6h ago
- CRCL, COIN Stocks Drop After Visa Backs USDC Rival Stablecoin Open USD TradingView · 6h ago
- Visa backs Open USD with new stablecoin platform as Circle faces fresh competition CoinDesk · 6h ago
- Visa Is Expanding Its Crypto Push With New Stablecoin Platform Bloomberg.com · 6h ago
- Exclusive: Visa launches new platform to provide stablecoin services to more than 200 million merchants Fortune · 6h ago
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