Visa unveils Stablecoin Platform as Ripple pushes XRP for faster cross‑border payments

Visa has launched the Visa Stablecoin Platform (VSP), a single corporate system that lets banks, fintechs and payment providers issue, hold and transfer stablecoins directly on Visa’s global payment network. The platform initially supports Open USD (OUSD) and also integrates existing stablecoins such as USDC and USDG, positioning the service within an estimated $304 billion stablecoin market.

Ripple CEO Brad Garlinghouse highlighted XRP’s role in solving cross‑border payment challenges, stating that an XRP transaction can settle in about four seconds at a negligible cost, versus Bitcoin’s ten‑minute confirmation time and higher fees. Garlinghouse stressed that XRP is built for banks and financial institutions to reduce the delays and expenses of international money transfers.