BREAKING: Visa looking for new stablecoin settlement partner after BVNK sale to Mastercard I think Visa’s search for a new stablecoin settlement partner shows where the real value in stablecoin infrastructure is moving. Mastercard acquired BVNK for up to $1.8 billion. Stripe bought Bridge for $1.1 billion. Visa now needs to replace BVNK and is reportedly looking for a partner that can provide settlement and OTC services with licences across the US, Canada, UK and Singapore. That licensing requirement is the part I find most interesting. There are many companies building stablecoin products. The pool gets much smaller when you need regulatory coverage across several major markets and the ability to settle at scale. I think this makes global licensing one of the most valuable assets in stablecoin infrastructure. Visa has launched its own Stablecoin Platform while relying on external infrastructure for parts of settlement. But after moves by Mastercard and Stripe, perhaps they will also look into an acquisition of some sort. For stablecoin startups, this changes what makes a company strategically valuable. A good API can be built relatively quickly. Getting regulated across the US, UK, Canada and Singapore takes years. That regulatory footprint is becoming a competitive advantage that the largest payment companies are willing to buy or partner for. I think we should expect a consolidation of the market in the next few years. Because at one point Coinbase was also interested in acquiring BVNK, and Mastercard weighted investment / acquition of Zerohash.