Visa is seeking a new stablecoin settlement partner with licenses in the US, Canada, the UK, and Singapore after Mastercard agreed to acquire London-based stablecoin firm BVNK earlier in 2026, according to documents.

The request seeks support for swaps and settlement across several stablecoins, including Open USD, and says Visa is evaluating a settlement and over-the-counter (OTC) partner with cryptocurrency exchange licenses in those markets.

Visa launched its Stablecoin Platform last month as a platform for institutions to manage treasury, settlement, liquidity, and program operations, with Open USD as the first supported token.

Visa says Open USD is the first stablecoin designed as open infrastructure, and says eligible clients can mint, burn, and manage the token through the platform.

The licensing requirement may narrow the field. Crypto exchange Kraken says it is regulated in the US, Canada, and the UK but is not licensed in Singapore.

BVNK has said it will power stablecoin capabilities across Mastercard payment endpoints, including 24/7 settlement for payment processors and acquirers.

🔗 Source: CoinDesk

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