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Visa Seeks New Partner for Stablecoin Settlements Amid Growing Adoption

Guavy AI Editorial Team
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Visa is on the hunt for a new strategic partner to manage settlements and OTC transactions with stablecoins. This move comes after Mastercard's acquisition of its previous partner, BVNK, which has prompted the payments giant to reorganize its infrastructure within the crypto ecosystem.

The need to find a replacement arises after Mastercard acquired BVNK in a corporate deal earlier this year. The main objective of this new alliance will be to facilitate the exchange and support of various stablecoins.

Visa's search for a new partner is not surprising, given that stablecoin adoption continues to grow. Currently, the total market capitalization of stablecoins is around $300 billion.

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