Visa seeks new stablecoin settlement partner across four markets

Visa is seeking a new partner to manage stablecoin settlement and over-the-counter (OTC) operations. This search follows Mastercard’s acquisition of BVNK, a fintech that previously provided stablecoin infrastructure for Visa.

The request for proposals (RFP) specifies that the chosen provider must hold cryptocurrency exchange licenses in four key markets: the United States, Canada, the United Kingdom, and Singapore. The partner will be responsible for facilitating multiple coin swaps, providing settlement services, and supporting transactions for Open USD, a stablecoin project backed by Visa, Mastercard, and Stripe.

Visa’s stablecoin settlement volumes reached an annualized run rate of approximately $4.5 billion by early 2026. The company’s move highlights the growing strategic importance of digital assets within global payment networks, as institutions seek to integrate regulated stablecoins into traditional financial rails.