Visa seeks stablecoin partner across 4 markets

Visa is reportedly seeking a new stablecoin settlement and over the counter partner after Mastercard acquired BVNK, which previously filled that role. Summary Visa reportedly seeks a stablecoin settlement partner licensed across the U.S., Canada, U.K. and Singapore. The confidential request reportedly requires multiple coin swaps, settlement services and support for Open USD transactions. Mastercard completed its BVNK acquisition on August 3, absorbing Visa’s previous stablecoin infrastructure partner entirely. Visa’s separate ZeroHash agreement supports stablecoin payouts but does not cover every requested licensed market. Visa has not confirmed the RFP, identified candidates or announced a partner selection deadline publicly. The confidential request for product seeks a provider with cryptocurrency exchange licenses in the U.S., Canada, the U.K. and Singapore, according to a report published on August 18. The documents reportedly call for support across several stablecoins, including the ability to conduct swaps and provide settlement services. The selected company would also help process transactions involving Open USD. Visa declined to comment on the reported process. It has no...