ARK Invest Executive Says Visa's Support for OpenUSD Closer to a Letter of Intent Than a Strategic Bet

Odaily Planet Daily News: ARK Invest Director of Crypto Research Lorenzo Valente posted on X platform that, during Visa's earnings call, when asked whether OpenUSD would compete with stablecoin players like Circle and Tether, Visa responded that it will maintain a multi-currency, multi-chain strategy moving forward. Its role is not to pick winners, but to help customers connect securely and at scale to the stablecoin ecosystem, regardless of which stablecoins, networks, or infrastructure ultimately gain adoption. Valente believes that the commitment from OpenUSD partners is closer to a letter of intent than a strategic bet, and there is a fundamental difference between supporting OpenUSD and committing substantial resources, channels, or balance sheets to help it succeed.