Home Finance SKN | Visa Seeks New Stablecoin Settlement Partner After BVNK Joins Mastercard
Finance

SKN | Visa Seeks New Stablecoin Settlement Partner After BVNK Joins Mastercard

Share
Share

Visa is seeking a new technology partner for its stablecoin settlement infrastructure after BVNK, a key provider of blockchain-based payment infrastructure, became part of rival Mastercard. The search comes as major payment networks accelerate investment in stablecoins and seek broader multi-chain capabilities for moving and settling digital dollars.

Visa’s request for proposal calls for infrastructure capable of supporting and swapping between a range of stablecoins, highlighting how competition is shifting from individual tokens toward the underlying infrastructure that connects stablecoins with traditional payment networks. The development also comes as U.S. regulators move toward implementing a new federal framework for dollar-backed stablecoins.

Visa Rebuilds Part of Its Stablecoin Settlement Infrastructure

BVNK’s departure creates a strategic gap for Visa after the stablecoin infrastructure provider became part of Mastercard. Mastercard agreed to acquire BVNK for up to $1.8 billion, including $300 million in contingent payments, as it sought to connect its traditional payment network with stablecoins and other digital assets

The importance of the relationship is underscored by BVNK’s existing scale. The company said its infrastructure was processing approximately $30 billion annually for major global brands, while its January partnership with Visa Direct supported stablecoin-funded payouts within Visa’s $1.7 trillion real-time payments network.

Visa has already been expanding its own stablecoin capabilities. In April, the company said its stablecoin settlement pilot had reached a $7 billion annualized run rate, representing 50% quarter-over-quarter growth, while support had expanded to nine blockchains.

Multi-Chain Support Becomes a Strategic Requirement

Visa’s RFP reportedly emphasizes the ability to swap and support multiple stablecoins, rather than relying on a single digital-dollar network. That approach reflects the fragmented structure of the stablecoin market, where issuers and payment companies operate across Ethereum, Solana, Base and other blockchain networks.

The broader payments industry is moving in the same direction. Mastercard announced support for regulated stablecoins including USDC, PYUSD, USDG, USDP, RLUSD and SoFiUSD across networks including Ethereum, Solana, Polygon, Arbitrum, Base, Canton, Tempo and XRPL.

Visa has similarly emphasized interoperability. Its April expansion added five blockchains to its settlement program, allowing partners to choose networks according to their operational requirements while Visa provides a common settlement layer.

For crypto infrastructure providers, the implication is significant: stablecoin settlement is becoming less about supporting one token and more about managing liquidity, compliance and interoperability across multiple networks.

Competition Intensifies as Stablecoins Enter Mainstream Payments

The competition between Visa and Mastercard is increasingly extending into blockchain settlement infrastructure. Mastercard’s acquisition of BVNK gives it direct access to technology that supports stablecoin payments, while Visa is now evaluating alternative partners to maintain and expand its own capabilities.

The timing is important as stablecoin regulation becomes more established in the United States. The Treasury Department recently proposed rules implementing provisions of the GENIUS Act, providing additional clarity around who can issue U.S. stablecoins and how those issuers must operate.

Institutional adoption is also pushing payment companies toward infrastructure capable of meeting conventional requirements for compliance, settlement finality and transaction controls. Visa’s collaboration with Brale, for example, is exploring stablecoin settlement on the Canton Network with a focus on privacy and institutional payment flows.

For investors, the strategic significance extends beyond Visa and Mastercard. The competition suggests that the infrastructure connecting stablecoins to traditional financial networks could become as important as the stablecoins themselves. The next phase will likely focus on transaction volumes, supported assets, blockchain coverage and the ability of providers to deliver compliant settlement at institutional scale.

Looking ahead, Visa’s search for a new settlement partner could accelerate competition among stablecoin infrastructure companies while giving the payments giant an opportunity to broaden its multi-chain strategy. With Visa already reporting a $7 billion annualized settlement run rate and Mastercard expanding its own stablecoin capabilities, the outcome of this search will offer an important signal of how quickly blockchain-based settlement is becoming embedded within global payments infrastructure.

Comparison, examination, and analysis between investment houses

Leave your details, and an expert from our team will get back to you as soon as possible

    Share

    Don't Miss

    SKN | More Than 60 U.S. Stocks Are Going Onchain. Could 24/7 Trading Reshape Global Markets?

    Key Points: OKXICE, a joint venture between OKX and Intercontinental Exchange, plans to offer 63 tokenized U.S. stocks, including Nvidia, Tesla, Apple and...

    SKN | Could an AI Slowdown Trigger a Broader US Economic Downturn?

    Key Points: US AI investment has reached a scale that makes the sector increasingly important to economic growth, with Goldman Sachs expecting the...

    Related Articles

    SKN | Hunter Biden Defends LAPTOP Token After 98% Crash, Says Project Was Designed to Troll Trump

    Key Takeaways Hunter Biden says the LAPTOP memecoin was not a rug...

    SKN | Vitalik Buterin Urges Crypto “Bunker Mode” as AI Accelerates Cryptography Risks

    Key Takeaways Ethereum co-founder Vitalik Buterin has backed calls for “bunker mode”...

    SKN | Circle Brings USDC and EURC Into SAP Enterprise Payments Through Tereina

    Key Takeaways Circle is integrating USDC and EURC into Tereina’s payment infrastructure,...

    SKN | Bitcoin Leads Crypto Lower as Broad Selling Pressures Ethereum and Altcoins

    Key Points: Bitcoin fell 2.61% to about $83,379, while Ethereum declined 4.63%,...

    Investcoin

    GET A FREE, EXPERT-BACKED
    INVESTMENT COMPARISON TODAY