CoinDesk
Visa is joining forces with a co-founder of Tether to develop onchain banking infrastructure — a move that signals the payments giant is ready to go beyond card rails and into native blockchain-based financial services. While details remain limited, the pairing of Visa's global merchant network with Tether's stablecoin expertise points toward $USDT-settled banking products built directly on-chain.
The collaboration is notable because it bridges two worlds that have long operated in parallel: traditional card-network infrastructure and crypto-native stablecoin issuance. Onchain banks could allow users to hold, spend, and transfer stablecoins without touching legacy banking plumbing.
For $USDT, deeper integration with a Visa-backed banking layer would further cement its role as the dominant settlement asset in the next generation of financial infrastructure.
Frequently asked questions
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What specific services will the onchain banks provide?
The onchain banks are expected to allow users to hold, spend, and transfer stablecoins directly on-chain, bypassing traditional banking systems.
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How will this partnership affect the use of $USDT in financial transactions?
The collaboration is likely to enhance $USDT's role as a dominant settlement asset in future financial infrastructure, integrating it more deeply with Visa's banking services.
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