Summary
- Global payments company Visa said it is expanding its stablecoin payments service in partnership with UK startup BVNK.
- Visa said it will integrate BVNK’s stablecoin infrastructure into Visa Direct and begin support in markets with strong demand for digital-asset payments.
- CoinDesk reported that Visa’s investment in BVNK last year reflects growing institutional confidence that stablecoin infrastructure will become part of the mainstream financial system.
Global payments company Visa is expanding its stablecoin payments service in collaboration with UK startup BVNK.
According to CoinDesk on the 14th (local time), Visa announced it had signed a stablecoin partnership agreement with BVNK that day. Through the partnership, Visa plans to integrate BVNK’s stablecoin infrastructure into Visa Direct.
Visa will roll out BVNK-based stablecoin payment services starting with markets where demand for digital-asset payments is high. Mark Nelson, Visa’s global head of products, said, “Stablecoins are an exciting opportunity in the global payments market,” adding that they “have the potential to broaden access to faster, more efficient payments.”
BVNK, a London-based stablecoin startup, processes $30 billion in stablecoin payments annually. Visa invested in BVNK last year. CoinDesk said the investment “signals growing institutional confidence that stablecoin infrastructure will become part of the mainstream financial system.”
