🏛️ Institutional Crypto: Visa Crypto

Visa’s recent pivot away from its former crypto unit signals a strategic shift toward a more cautious, partnership‑driven approach to stablecoins. The launch of an open payments network by the ex‑lead suggests that Visa is positioning itself to offer interoperable, cross‑border payment solutions that can integrate multiple stablecoin issuers, rather than relying on a single in‑house platform. This move aligns with the broader industry trend of banks seeking external liquidity and regulatory clarity while maintaining control over settlement risk. Meanwhile, Visa’s public call for “bank protections” for stablecoins and the search for a new settlement partner following BVNK’s sale to Mastercard underline the regulatory pressure on stablecoin ecosystems. Banks are increasingly wary of anti‑money‑laundering (AML) and know‑your‑customer (KYC) compliance, especially as stablecoin volatility and potential illicit use cases remain concerns.