BlockBeats News, July 16th. According to Fortune, Visa has launched the Visa Stablecoin Platform, providing a one-stop stablecoin service for banks and fintech companies to help them integrate stablecoins into existing payment, fund settlement, and money transfer systems. Visa hopes that this will enable its approximately 15,000 financial institutions and over 200 million merchants to more conveniently use stablecoins.

Visa settles about $150 trillion in payments annually and has already processed stablecoin settlements worth billions of dollars. This platform will consolidate Visa's existing stablecoin services, reduce the complexity for customers in handling blockchain technology, and allow them to focus on the payment experience. Merchants using stablecoins will be able to achieve instant settlement and reduce transaction costs.

The platform will use the Stablecoin OUSD, launched by Open Standard two weeks ago, as the strategic starting point of the infrastructure, while complementing Visa's support for USDC and USDG. Visa is a partner of Open Standard, and American Express and Mastercard are also involved in OUSD-related partnerships.