Visa issues a request for product for a new stablecoin settlement partner after Mastercard bought BVNK

CoinDesk reported on 18 August 2026 that Visa has issued a request for product seeking a new stablecoin settlement and over-the-counter partner, after Mastercard acquired BVNK — the firm that had served that function — for up to USD 1.8bn earlier in 2026. Visa's stated requirements include supporting multiple stablecoins and settling Open USD, the consortium stablecoin backed by Stripe, Visa and Mastercard, and it is looking at candidates holding crypto exchange licences in the US, Canada, the UK and Singapore. Visa launched its own Visa Stablecoin Platform in July 2026.

Settlement plumbing is normally invisible to acceptance, but this is the second time in a year that a scheme's stablecoin capability has changed hands rather than been built, and the corpus already records Open USD launching with Adyen, Worldline, Fiserv, Checkout.com and Nuvei as partners. Which counterparty Visa lands decides who European acquirers settle Open USD through, and the licence list — UK yes, no EU venue named — is a signal about where the schemes think that settlement will legally sit.

Whether Visa names a partner and whether any EU-licensed venue appears on the shortlist; and whether European acquirers on the Open USD partner list have to change settlement counterparties as a result.

• thepaypers.com