ARK Invest Executive Says Visa’s Support for OpenUSD Feels More Like a Letter of Intent Than a Strategic Bet

Odaily Odaily ARK Invest’s Director of Crypto Research, Lorenzo Valente, stated on the 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 being not to pick winners but to help clients securely and at scale connect to the stablecoin ecosystem, regardless of which stablecoin, network, or infrastructure ultimately gains adoption. Valente believes that the OpenUSD partner commitment is more akin to a letter of intent than a strategic bet, as supporting OpenUSD is fundamentally different from dedicating substantial resources, channels, or balance sheets to ensure its success.