Visa and Bridge Partner to Enable Stablecoin-Linked Cards

Visa and Bridge have partnered to launch a card-issuing product that enables cardholders to use their stablecoin balance to make purchases at any merchant location that accepts Visa.

With this collaboration, FinTech developers using Bridge — a stablecoin orchestration platform owned by Stripe — can offer stablecoin-linked Visa cards to their end customers, the companies said in a Wednesday (April 30) press release.

This offering now enables the issuing of these card programs in six countries in Latin America: Argentina, Colombia, Ecuador, Mexico, Peru and Chile, according to the release.

It will be expanded to countries in Europe, Africa and Asia in the coming months.

“We’re focused on integrating stablecoins into Visa’s existing network and products in a frictionless and secure way,” Visa Chief Product and Strategy Officer Jack Forestell said in the release. “Partnering with Bridge represents a significant move in helping to make stablecoins useable in everyday life, giving consumers more choice in how they manage and spend their money.”

Bridge CEO and Co-Founder Zach Abrams said in the release that this collaboration will enable anyone to use stablecoins with just a tap of the card with which they are already familiar.

“This is a massive unlock for developers who can now build truly scalable issuing products for their users,” Abrams said.

Abrams and Stripe CEO Patrick Collison announced Oct. 21 that Stripe planned to acquire Bridge. Collison said at the time that the move was part of Stripe’s plan to “build the world’s best stablecoin infrastructure,” while Abrams said the acquisition would enable Bridge and Stripe to “solve bigger problems, support more developers and help more consumers and businesses all across the world.”

Stripe completed the acquisition in February.

Visa CEO Ryan McInerney said Tuesday (April 29) that stablecoins are an area of promise due to their capabilities around interoperability and programmability.

“We have continued to expand our interoperability, including with our first seven-day-a-week stablecoin settlement, recently surpassing $200 million in cumulative stablecoin settlement volume,” McInerney said during the company’s quarterly earnings call.

Mastercard said Monday (April 28) that it partnered with two more companies — OKX and Nuvei — to further its efforts to power stablecoin transactions for consumers and merchants.