Visa is seeking new stablecoin settlement partners to replace BVNK, which has been acquired by Mastercard

According to CoinDesk, Visa is seeking new stablecoin settlement and over-the-counter trading partners to replace BVNK, which was previously acquired by Mastercard. The related product request document shows that Visa hopes the partners will have cryptocurrency exchange licenses in the United States, Canada, the United Kingdom, and Singapore, and be able to support various stablecoin exchange and settlement services, including handling settlements for the Open USD stablecoin project driven by Stripe, Visa, and Mastercard.

Previously, Visa launched the Visa Stablecoin platform, providing banks, fintech companies, and payment service providers with tools for accessing, storing, redeeming, and transferring stablecoins, initially supporting OUSD.