Navy Federal, Vystar sign up for Visa's stablecoin consulting

Core Insights - Visa has launched its Stablecoin Advisory Practice to assist financial institutions, fintechs, and merchants in deploying stablecoin technology [2][9] - The advisory service includes training, market trend programs, use case sizing, strategy development, and technology enablement for stablecoin integration [2][3] - The initiative aims to help banks identify preferred stablecoin use cases while Visa seeks to protect its competitive advantage in the evolving payment landscape [5][8] Industry Developments - Navy Federal Credit Union, Vystar Credit Union, and Pathward are the first financial institutions to engage with Visa's advisory service [3][9] - Other banks, such as U.S. Bank and St. Cloud Financial Credit Union, are exploring stablecoin issuance and deployment strategies [6][5] - The growing interest in stablecoins is driven by their potential to enhance payment speed and reduce costs, prompting financial institutions to evaluate their broader strategies [4][5] Competitive Landscape - Visa's advisory service is seen as a move to maintain its competitive edge as stablecoins and agentic commerce could disrupt traditional payment systems [7][8] - The company is actively developing new use cases for stablecoins on its Visa Direct platform, including prefunding pilots and payouts to gig workers [8] - The rapid evolution of the stablecoin market necessitates that Visa stays informed and involved to safeguard its network's relevance [7][9]