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Visa is teaming up with a Tether co-founder to build onchain banks
Collins wants to bring robust stablecoin payments infrastructure to under-banked people around the planet.
Apr 28, 2026, 1:38 p.m.
What to know:
- Visa is working with blockchain-based stablecoin infrastructure firm WeFi to build onchain payments and banking services
- The rollout will take place region by region, starting with selected markets in Europe, Asia, and Latin America.
- The Visa partnership closes that “last half mile” of onchain banking infrastructure.
“We’re upgrading the plumbing and offering essentially people bank accounts, because they’ll soon have their IBAN numbers, and we’re getting the various licenses around the world to operate appropriately,” Collins said in an interview.
As the platform scales, the plan is to partner with more banks and institutions, with a view towards the underbanked of the world, Collins said.
The rollout will take place region by region, starting with selected markets in Europe, Asia and Latin America. Expansion into additional markets will depend on local regulatory approvals and issuing partnerships.
“The partnership with Visa really closes that last half mile of onchain banking infrastructure,” Collins said.
