Visa Seeks New Stablecoin Payments Partner After BVNK's Acquisition

Visa is searching for a new stablecoin payments and OTC partner holding digital asset exchange licenses in the United States, Canada, the United Kingdom, and Singapore, after its previous partner BVNK was acquired by Mastercard earlier this year. The new partner will also handle payment processing for the Open USD project, a joint initiative by Stripe, Visa, and Mastercard. With the stablecoin market at roughly $300 billion in total market capitalization and competition intensifying since Stripe's acquisition of Bridge, Visa launched its own stablecoin platform last month.