Visa is looking for a new stablecoin settlement and over-the-counter trading partner after Mastercard's Aug. 3, 2026 acquisition of BVNK absorbed the company that had been handling Visa's settlement infrastructure. A request for product seen by CoinDesk indicates Visa wants one provider licensed in the U.S., Canada, the U.K. and Singapore that can swap and settle multiple stablecoins, support Open USD transactions, convert between fiat and tokens, and supply institutional liquidity. The search appears broader than Visa's Aug. 5, 2026 ZeroHash agreement for Visa Direct payouts, which lets eligible clients fund accounts and send disbursements with stablecoins but does not cover every market cited in the request. Visa declined to comment publicly, has not named candidates or set a timetable, and there is no indication a final selection or binding agreement has been reached.