• Home
• Technology

 Visa continues to bolster its presence in the digital payments sector, announcing its entry into an alliance comprising over 140 financial and technological institutions to support "Open USD," a stablecoin pegged to the US dollar. This move reflects the company's accelerating shift toward integrating digital asset technologies within its global financial infrastructure.

This development coincides with the launch of the "Visa Destinations" platform, specializing in travel services and tourism experiences, alongside the expansion of its partnership network in various global markets, including Vietnam and the e-sports sector, as part of a strategy aimed at diversifying growth sources and expanding its digital services.

Joining the Open USD project represents a significant shift in Visa's strategy, as the company seeks to leverage stablecoins to develop faster and more efficient money transfer solutions, particularly in cross-border payments, international remittances, and business-to-business (B2B) settlements—sectors experiencing rapid growth with the global expansion of the digital economy.

In recent years, Visa has been working to build an integrated payments ecosystem that goes beyond reliance on traditional payment cards. This includes investing in instant money transfer solutions, employing artificial intelligence in risk management, and supporting blockchain and stablecoin technologies, enabling faster and lower-cost transactions.

This strategic direction also strengthens the position of "Visa Direct," one of the company's most important growth engines, which provides instant cross-border money transfers between individuals and businesses. The integration of stablecoins is expected to enhance the efficiency of this service and broaden its global usage.

Despite the immense opportunities stablecoins offer, they simultaneously pose a challenge to the business model of traditional payment card companies. New payment networks based on blockchain technology could execute transactions directly without the need for certain financial intermediaries, which could put pressure on a portion of traditional payment networks' future revenues.