Visa Seeks Licensed Partner for Open USD Stablecoin Settlement

Visa is searching for a licensed partner to handle settlement and over-the-counter services for its Open USD stablecoin project. The company wants a single partner that can operate in the US, Canada, UK, and Singapore, where the regulatory environment is particularly strict.

The ideal candidate must have cryptocurrency exchange licenses across these four markets, which narrows the field considerably. By choosing one partner, Visa aims to simplify compliance and operational efficiency, rather than juggling multiple relationships with varying standards.

Open USD is a stablecoin project backed by Stripe, Visa, and Mastercard, designed to support multiple tokens. The selected partner will be responsible for settling transactions within the Open USD project, which ties back to its ambition to work across various digital dollar tokens.