Key Highlights:
- Visa says it will support multiple stablecoins instead of backing a single winner.
- CEO Ryan McInerney downplayed Open USD as a direct USDC or USDT competitor.
- Visa believes its role is connecting businesses to the broader stablecoin ecosystem.
Visa says it intends to remain neutral in the growing stablecoin market despite joining more than 140 companies supporting the upcoming Open USD (OUSD) stablecoin.
During the company's earnings call, CEO Ryan McInerney said Visa's strategy is to support multiple blockchains and stablecoins rather than favoring any single issuer.
The comments follow speculation that Open USD could become a serious competitor to Circle's USDC and Tether's USDT after several major financial companies joined the initiative.
Visa recently launched its own stablecoin infrastructure platform, initially supporting OUSD, but stressed that its long-term goal is to connect banks and businesses to whichever stablecoins ultimately achieve widespread adoption.
