Visa and Bridge partner on new product enabling stablecoin-backed cards

Visa and Bridge, the startup recently acquired by Stripe, are partnering on a new card-issuing product that will allow developers using Bridge to offer stablecoin-backed Visa cards.

According to an announcement, cardholders will be able to make purchases using their stablecoin balances “at any merchant location that accepts Visa.” Bridge will handle the backend infrastructure that draws down users’ stablecoin balances and fiat conversions.

The product will be available in multiple countries, beginning with Argentina, Colombia, Ecuador, Mexico, Peru, and Chile. Merchants will be able to get paid in their local currencies.

"We’re focused on integrating stablecoins into Visa’s existing network and products in a frictionless and secure way," Jack Forestell, Visa's chief product and strategy officer, said in a statement. "Partnering with Bridge represents a significant move in helping to make stablecoins usable in everyday life, giving consumers more choice in how they manage and spend their money."

Bridge CEO Zach Abrams noted that integrating stablecoins with the global Visa network is a “massive unlock” for developers looking to build convenient crypto products.

“Everyone already knows how to use cards for payments, and now everyone will be able to use stablecoins with just a tap of their card,” he said.