Key Points
- On 16 July, Visa officially announced its new stablecoin platform, VSP.
- The VSP platform supports the stablecoin issuance and management processes of financial institutions.
- The new platform will operate in compliance with the Open USD standard for digital asset integration.
By the Numbers
16 July announcement date
Visa has announced a new platform to facilitate the issuance, transfer, and management of stablecoins by financial institutions and fintech companies. This new system, called the Visa Stablecoin Platform (VSP), aims to simplify operational processes within the digital currency ecosystem.
The platform is reported to support the Open USD standard. This aims to enable corporate clients to manage their digital assets in a more flexible and standards-compliant manner. Visa's move stands out in terms of strengthening the integration between traditional finance and blockchain technologies.
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Frequently Asked Questions
- What exactly does the Visa Stablecoin Platform (VSP) do?
- VSP is an infrastructure platform that facilitates financial institutions and fintech companies to issue, transfer, and manage stablecoins.
- Which technical standard does the VSP platform support?
- The platform operates in compliance with the Open USD standard to carry out related transactions and integrations.
- Which organizations does the VSP platform target?
- This platform primarily targets financial institutions and fintech (financial technology) companies.
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Read the full story at the sourcenews.mynavi.jpHow we produce our content →This story across sources · 2 · 2 countries
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- Inside Telecom (Norway)·
- Andina (Agencia Peruana de Noticias)·
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