TLDR Tech / Crypto
Visa's stablecoin strategy: procurement gateway, not issuer
Visa's Head of Crypto Cuy Sheffield told Bloomberg Crypto that Visa isn't competing to issue stablecoins but wants to be the "procurement gateway" that brings banks onchain and the "acceptance layer" that makes issued stablecoins spendable. Its Visa Stablecoin Platform (VSP; in beta) bundles wallet creation, Open USD issuance/redemption, custody, and transfers, paired with Visa Consulting & Analytics for use-case selection and launch support. Per Paymentscan, cumulative crypto card volume has topped $11 billion with Visa holding 96.8% of card network volume and powering 17 of the top 20 crypto card issuers by transaction volume. Visa's Trusted Agent Protocol (TAP) is also positioning it to connect stablecoins with agentic-commerce payment protocols like x402.
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