Visa CEO on Open USD Competition: Visa Is Not Just Picking Winners

Odaily reported that Visa CEO Ryan McInerney stated during the earnings call that Visa's role in the stablecoin space is not to pick winners, but to help clients securely and scalably connect to the stablecoin ecosystem.

Last month, Visa joined forces with over 140 companies, including Stripe, Mastercard, BlackRock, and Coinbase, to support Open Standard, which plans to launch the stablecoin Open USD (OUSD) later this year. Following the announcement, market speculation arose that OUSD could challenge Tether's USDT and Circle's USDC.

When asked whether Visa views OUSD as a competitor to USDT and USDC, McInerney said that Visa will maintain a "multi-currency, multi-chain" strategy going forward and will not bet on a single stablecoin, network, or infrastructure.

He stated that Visa's goal is to support clients in accessing the stablecoin ecosystem, regardless of which stablecoin, network, or underlying infrastructure is ultimately adopted.

Ark Invest analyzed that Visa is clearly interested in Open USD, but this does not necessarily mean it views OUSD as an exclusive strategic bet. Overall, Visa appears to be keeping its participation open at the stablecoin infrastructure level, rather than directly aligning with a specific stablecoin issuer.