SAN FRANCISCO —Visa has launched a Stablecoins Advisory Practice it said is aimed at helping banks, fintechs, merchants and businesses evaluate and implement stablecoin technology, with the company announcing two credit unions are clients.
The global practice is part of Visa Consulting and Analytics, a value-added advisory unit that provides guidance on market fit, strategy and execution for stablecoins, Visa said in a press release.
According to Visa, services offered through the practice include stablecoin education and market-trend programs, including a new course through Visa University, as well as strategy development, market-entry planning, use-case sizing, go-to-market planning and technology enablement for stablecoin integration, according to the release.
“Having a comprehensive stablecoins strategy is critical in today’s digital landscape,” Carl Rutstein, global head of Visa Consulting and Analytics, said in a statement. “Clients come to Visa and VCA for guidance because they trust our ability to navigate change, both within payments and beyond.”
Visa said the Stablecoins Advisory Practice has been operating for several months and has completed more than 20 engagements worldwide.
Two Credit Union Clients
Among its clients, VyStar Credit Union said the advisory work helped clarify how stablecoins could be relevant to its members. “The VCA team provided practical insights and tailored recommendations that helped us deepen our understanding of the stablecoin landscape,” Lauren Morrison, vice president of payment products at VyStar, said in the release.
According to Visa, Navy Federal Credit Union is also working with the company to assess the technology. “Stablecoins may represent an opportunity to enhance speed and lower cost in payments,” Matt Freeman, a senior vice president at Navy Federal, said in a statement. He added the world’s largest credit union is evaluating how stablecoins could fit into its broader payments strategy.
The Next Generation
Visa CEO Ryan McInerney said in his annual letter to shareholders earlier this month that stablecoins represent “next-generation settlement infrastructure.”
Visa’s roadmap includes stablecoin-linked cards, settlements in stablecoins such as USDC, prefunding for cross-border payouts and pilots that deliver payouts directly to stablecoin wallets, he wrote.
Visa has also expanded its advisory services beyond payments. In August, the company launched a Cybersecurity Advisory Practice within Visa Consulting and Analytics, drawing on its global network of consultants, data scientists and product experts.
