"Visa is currently shopping for a new stablecoin settlement and over-the-counter partner. The RFP requirements demand a partner that holds cryptocurrency-exchange licenses in the U.S., Canada, the UK, and Singapore. The divergence in strategy between the two payment giants is stark. Mastercard has opted for vertical integration, buying its way into the infrastructure layer. Visa, is doubling down on its consortium-led approach, betting that the collective weight of the OUSD project will provide a more scalable path forward."