Visa is searching for a new crypto stablecoin settlement partner as the payments giant expands its blockchain based settlement infrastructure and prepares for broader global stablecoin adoption. According to documents reviewed by CoinDesk, Visa wants a partner capable of providing settlement and over the counter (OTC) services while holding cryptocurrency exchange licenses across the United States, Canada, the United Kingdom and Singapore.
The search comes as Visa strengthens its position in the rapidly growing stablecoin payments market. The company previously worked with stablecoin infrastructure firm BVNK for settlement services, but Mastercard acquired BVNK earlier this year, creating the need for Visa to find another partner with the regulatory coverage and liquidity infrastructure required to support its global crypto settlement operations.
Visa Expands Its Stablecoin Settlement Strategy
Visa’s latest partner search follows a series of major investments in stablecoin infrastructure. In April 2026, Visa expanded its stablecoin settlement pilot to nine blockchains and reported a $7 billion annualized stablecoin settlement run rate, representing 50% quarter over quarter growth. The expansion allows Visa’s issuers and acquirers to use multiple blockchain networks while maintaining Visa as a common settlement layer.
The company also launched the Visa Stablecoin Platform in July 2026, giving banks, fintech companies and payment providers infrastructure to access, store, redeem and manage stablecoins through a Visa managed environment. Open USD serves as the platform’s initial supported stablecoin, reinforcing Visa’s push to connect traditional financial institutions with blockchain-based payment infrastructure.
Visa’s stablecoin strategy extends beyond settlement between financial institutions. The company has also expanded its partnership with Bridge, a Stripe company, to bring stablecoin linked Visa cards to more than 100 countries by the end of 2026. The program allows users to spend stablecoin balances through Visa cards, while Bridge provides infrastructure for businesses and fintech developers.
Open USD Creates New Demand for Settlement Infrastructure
The new partner will reportedly play an important role in the Open USD project, which aims to support multiple stablecoins rather than rely exclusively on a single digital dollar. Visa’s requirements include the ability to swap and support different stablecoins, potentially giving the payments network greater flexibility as businesses and financial institutions adopt different blockchain based currencies.
Open USD reflects a broader shift in the payments industry toward stablecoin interoperability. Instead of building payment systems around one blockchain or one stablecoin, financial companies increasingly want infrastructure that can move value between multiple digital assets and networks. For Visa, a settlement partner with licenses across several major financial markets could help connect these stablecoin flows to its existing global payments network.
Visa has already demonstrated that it views stablecoins as a settlement technology rather than simply a crypto trading asset. The company launched USDC settlement for U.S. institutions in December 2025 and has continued expanding blockchain settlement options for issuers and acquirers. Visa says its stablecoin infrastructure can provide faster funds movement, seven day availability and improved settlement resilience compared with traditional batch based systems.
Visa’s Global Crypto Payments Race Intensifies
The search for a new stablecoin partner highlights the growing competition between Visa and Mastercard as both payment networks build deeper relationships with the cryptocurrency industry. Mastercard’s acquisition of BVNK gives it access to stablecoin infrastructure, while Visa is now seeking another regulated partner capable of supporting its expanding settlement operations.
Visa’s broader stablecoin expansion also comes as the company targets cross border payments, institutional settlement and digital asset spending. Visa has previously partnered with companies such as Aquanow to expand stablecoin settlement across Central and Eastern Europe, the Middle East and Africa, while its stablecoin-linked card programs connect digital wallets to Visa’s global merchant network.
The choice of a new settlement and OTC partner could therefore become strategically important for Visa’s global crypto payments ambitions. A partner licensed across the U.S., Canada, U.K. and Singapore would give Visa access to several major financial markets while providing the liquidity, compliance and digital asset infrastructure needed for stablecoin settlement.
Visa’s latest move signals that stablecoins are becoming an increasingly important part of the global payments infrastructure. With its stablecoin settlement volume growing, support for multiple blockchains expanding and the Visa Stablecoin Platform now live, the company appears to be positioning blockchain based settlement as a core component of its future payments strategy.
