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Odaily News: Payment company Visa is seeking settlement and over-the-counter (OTC) trading partners with cryptocurrency exchange licenses in the United States, Canada, the United Kingdom, and Singapore. The partner will also be responsible for settlement of the newly launched Open USD stablecoin project, which plans to support multiple stablecoins. (CoinDesk)
According to CoinDesk, Visa is seeking new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. Relevant product request documents indicate that Visa expects partners to hold cryptocurrency exchange licenses in the U.S., Canada, the UK, and Singapore, and to support multiple stablecoin conversion and settlement services, including handling settlement for the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard.
According to Cointelegraph, blockchain analytics firm Chainalysis released a report stating that stablecoin-adjusted transaction volume is projected to reach $719 trillion by 2035—marking a substantial increase from $28 trillion in 2025. If two major macro catalysts align, this figure could double further to $15 trillion, surpassing the current annual global cross-border payment volume of approximately $10 trillion. The two catalysts are: (1) the transfer of over $100 trillion in wealth from the Baby Boomer generation to younger, crypto-native generations; and (2) stablecoins fully replacing traditional payment rails as the default payment infrastructure. Rachael Lucas, an analyst at Australian crypto exchange BTC Markets, noted that strategic moves—including Stripe’s acquisition of Bridge and Mastercard’s partnership with BVNK—are concrete steps forward. Coupled with regulatory clarity provided by the GENIUS Act, institutional participation is expected to expand significantly.