Visa launches stablecoin platform letting banks issue and settle digital dollars

Visa has launched a stablecoin platform that enables banks and fintechs to issue, manage and settle digital dollars — branded as Open USD (OUSD) — through its existing payments network. The move represents a direct challenge to Circle, the issuer of the USDC stablecoin. The platform positions Visa as a key infrastructure provider in the growing digital-dollar ecosystem.