Visa is reportedly looking for a new stablecoin settlement partner after Mastercard completed its acquisition of BVNK, the company that previously handled that role for Visa.
According to reports, Visa is searching for a provider that holds crypto-related licenses in the United States, Canada, the United Kingdom, and Singapore. The company is said to want a single partner that can manage stablecoin settlements, liquidity services, and conversions between different stablecoins across these key markets.
The reported requirements go beyond simple crypto transfers. Visa is looking for a partner that can support multiple stablecoins, handle large-scale settlement services, and process transactions involving Open USD.
So far, Visa has not publicly confirmed the reported search, named any potential partners, or announced when a decision will be made.
The search comes shortly after Mastercard completed its acquisition of BVNK on August 3. BVNK had been working with Visa as a stablecoin settlement partner before becoming part of Mastercard. Neither company has publicly explained how the acquisition affected their previous business relationship.
Visa already has other stablecoin partnerships in place. Earlier this month, the company announced an agreement with ZeroHash that allows certain Visa Direct customers to send and receive payments using stablecoins. However, reports suggest that arrangement does not cover all the markets and services Visa is now seeking.
The company has also been expanding its own stablecoin efforts through the Visa Stablecoin Platform, which is designed to help businesses issue, manage, store, and transfer stablecoins. Open USD is currently the platform’s first supported asset.
At this stage, there is no public timeline for selecting a new partner. Any future agreement will likely depend on regulatory approvals, technical integration, and commercial negotiations. Until Visa officially comments, the reported search and its requirements remain based on information cited in media reports.
