Stablecoin adoption is entering a new phase. The core question is no longer only which token has the largest market capitalisation. It is whether the stablecoin can be used inside a controlled, auditable and operationally safe environment. Visa’s announcement of a Stablecoin Platform is important because it packages minting, redemption, holding and transfer capabilities for financial institutions, fintechs and payment providers. That is a different adoption path from direct w