Visa is piloting the use of stablecoins for cross-border payments via its Visa Direct platform, aiming to enhance transaction speed and reduce costs for businesses. The initiative allows companies to pre-fund payments with stablecoins, significantly cutting down settlement times from days to minutes.

Open Issuance is a new platform from Bridge that enables businesses to launch and manage their own stablecoins, providing control over product experience and economics without relying on external issuers. It supports customization and interoperability with other stablecoins, facilitating liquidity and reducing costs for businesses. Phantom, a crypto wallet, is the first to utilize this platform for its new stablecoin, CASH.