Visa Seeks New Stablecoin Settlement Partner After BVNK Joins Mastercard

Visa's Search for a Replacement

Visa has issued a request for proposals (RFP) to identify a new stablecoin settlement partner, according to CoinDesk. The move follows Mastercard's acquisition of BVNK, which had provided Visa with stablecoin settlement infrastructure. Visa's RFP emphasizes the need to support a range of stablecoins rather than a single protocol or issuer, suggesting the company intends to maintain flexibility across multiple on-chain payment rails.

Market Dynamics and Competitive Pressure

The shift reflects growing competition among payment networks to capture share in real-time settlement infrastructure. Mastercard's acquisition of BVNK represents a strategic consolidation that locks a key infrastructure provider into one network, while Visa's RFP process indicates the company views stablecoin settlement as a core capability it cannot afford to outsource to a single vendor dependent on a competitor. Both moves underscore how major payment networks are repositioning themselves to compete in on-chain payments alongside traditional card networks.

Why It Matters

For Traders

Stablecoin liquidity and settlement speed may shift depending on which infrastructure partner Visa selects, potentially affecting execution quality for on-chain payment flows.