Visa

Aug 5, 2026 moneyculture

Visa is cutting 320 Bay Area roles, including six vice presidents

A WARN notice filed with California's Employment Development Department on July 31, 2026 details 320 job cuts at Visa's Foster City campus, effective October 1, including six vice presidents, 37 senior directors, 16 chief engineer or architect roles and dozens of senior technical positions. The Bay Area cuts are part of a roughly 7 percent workforce reduction, about 2,600 jobs, which Bloomberg ties in part to CEO Ryan McInerney's push to build more AI into company workflows.

Jul 31, 2026 money

Open USD, the stablecoin backed by Visa and Mastercard, picks Ethereum first

Open USD (OUSD), the institution-focused stablecoin built by the Open Standard consortium of more than 140 companies including Visa, Mastercard, Stripe, BlackRock, BNY and Coinbase, will launch first on Ethereum, with the network expected to go live later this year. The design challenges Tether and Circle directly: no single issuer, consortium governance, fee-free minting and redemption, and reserve earnings distributed to ecosystem partners.

Jul 28, 2026 productsmoney

X Money goes live across the US as a fiat-only neobank with no crypto

On July 27, 2026, X started rolling out X Money to all US Premium and Premium+ subscribers in 41 states plus Washington DC, excluding New York and Massachusetts for now. The service offers deposit accounts operated by X Payments LLC with FDIC-insured Cross River Bank, a metal Visa debit card, up to 6% APY, 3% cashback and free instant transfers to any X handle. Despite Musk's crypto history, it launched fiat-only, with no Bitcoin, stablecoins or on-chain settlement, though execs hint stablecoins may come later.

Jul 17, 2026 productsmoney

Visa unveils a stablecoin platform that lets banks mint and move digital dollars

On July 16, 2026, Visa announced the Visa Stablecoin Platform, a single Visa-managed environment where banks, fintechs and crypto firms can mint, redeem, hold and transfer stablecoins, plus a Wallet-as-a-Service layer. It launches with Open USD, a stablecoin recently introduced by the Open Standard consortium, and includes dual-control workflows, audit logs, passkeys and transfer allow lists. It is in beta with select clients, not live across Visa's network, and Visa frames Open USD as complementing stablecoins it already supports, including USDC and USDG.