Visa seeks stablecoin settlement partners after BVNK deal

Visa has sent out a request for proposals to select partners for stablecoin settlement and over-the-counter trading after rival Mastercard acquired stablecoin payments infrastructure firm BVNK, CoinDesk reported. Visa is seeking settlement and OTC partners with crypto exchange licenses in the U.S., Canada, the UK and Singapore. The new partner would support swaps among multiple stablecoins and handle settlement for Open USD (OUSD), a new stablecoin project led by Stripe, Visa and Mastercard. Visa officially launched its Visa Stablecoin Platform last month to help global financial institutions and fintech firms custody and settle stablecoins.