Visa's $1.7 Trillion Network Adds Stablecoin Infrastructure

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Jan 19, 2026

Michael Tannenbaum, CEO of Figure, is at the forefront of tokenizing real-world assets. He shares insights on the Visa Direct partnership with BVNK, aiming to streamline stablecoin payments. Tannenbaum discusses Figure's on-chain public equity network (OPEN), which promises benefits like self-custody and transparency in equity voting. The conversation touches on the implications of a delayed Senate bill affecting stablecoin yields and the role of blockchain in reshaping financial markets. Tannenbaum also explores cross-chain DeFi initiatives.

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INSIGHT

Stablecoins Can Kill Pre-Funding

Stablecoins can eliminate the need for pre-funding in cross-border payouts by enabling 24/7 funding and instant local rails.
Cuy Sheffield says partners like BVNK provide compliance, liquidity, and treasury infrastructure to make that practical.

INSIGHT

Visa Direct Adds Push-To-Stablecoin

Visa Direct will add a push-to-stablecoin payout endpoint powered by BVNK, enabling wallets as payout destinations.
BVNK handles compliance, conversion from fiat to stablecoins, and transaction monitoring for Visa Direct customers.

ADVICE

Plan For Phased Stablecoin Launches

Expect pilots and onboarding first, then broader rollout; plan integrations accordingly and engage early with partners.
BVNK aimed for a public launch in January and targeted rapid TPV scale with Visa Direct customers.

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On Ep. 66 of Tokenized, Simon Taylor, GTM @ Tempo and Cuy Sheffield, Head of Crypto @ Visa, are joined by Michael Tannenbaum, CEO @ Figure to discuss Visa Direct partnership with BVNK, Figure's on-chain public equity network (OPEN) for blockchain-registered equity and more!

Timestamps:

00:00 Introduction
00:50 Visa Direct partnership with BVNK for stablecoin payment endpoints
04:10 How BVNK provides full-stack stablecoin infrastructure for Visa
08:18 Targeting multi-billion dollar transaction volume for Visa Direct stablecoin launch
13:23 Figure's on-chain public equity network (OPEN) for blockchain-registered equity
17:37 Benefits of blockchain-native equity for self-custody and stock loan control
22:21 Using blockchain for equity proxy voting transparency and cost reduction
33:21 Building on Provenance blockchain for privacy and cross-chain DeFi finance
39:32 Senate market structure bill delay and debate over stablecoin yield
43:32 Polygon acquisitions to build an open money stack for stablecoin payments

Tokenized is sponsored by Visa

A world leader in digital payments, Visa is bridging the gap between traditional financial institutions and innovative blockchain networks, helping players in the payments ecosystem navigate the ever-evolving world of tokenized fiat currencies with confidence and ease. Learn more at visa.com/crypto.

Tokenized is presented by Bridge, a Stripe company.

Just like the internet made information global, stablecoins are making money global. And Bridge, a Stripe company, is the infrastructure powering that shift. Built for speed, scale, and simplicity, Bridge helps businesses send, store, convert, and spend stablecoins instantly, all without borders or having to navigate the complexities of crypto. Learn more at bridge.xyz

Tokenized is also presented by Centrifuge

With over $1 billion in total value locked, Centrifuge works with major institutional partners to tokenize and distribute their funds — and with capital allocators onchain to invest and manage yield. Through every crypto cycle, Centrifuge has been building — and today, it’s the market leader in tokenizing real-world assets. Learn more at centrifuge.io

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We’d also like to remind you that the views or opinions of our contributors today are their own and do not necessarily reflect those of the companies they are representing. Nothing we say should be taken as tax, financial, investment or legal advice, do your own research!

Music by Henry McLean