Visa's own origin (1958-1976)
Bank of America launched BankAmericard in Fresno, California in 1958 as a consumer credit card, then licensed the system to banks nationwide. It renamed to Visa in 1976 and built the settlement infrastructure that made cards a global standard.
Visa grew from a single-state experiment to the world's largest payments network, processing trillions of dollars annually.
The lesson: payments infrastructure becomes dominant by signing up institutions, not consumers directly.
The company now investing in stablecoin rails was itself a new settlement layer once. Its bet on Velocity is a bet on the next one.
