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

Odaily Odaily News: ARK Invest Director of Crypto Research Lorenzo Valente posted on X that when asked during Visa's earnings call whether OpenUSD would compete with stablecoin players like Circle and Tether, Visa responded that it will maintain a multi-currency, multi-chain strategy going forward, and that its role is not to pick winners, but to help clients securely and at scale connect to the stablecoin ecosystem, regardless of which stablecoins, networks, or infrastructure ultimately gain adoption. Valente believes that OpenUSD partner commitments are closer to a letter of intent than a strategic bet, and that supporting OpenUSD is fundamentally different from committing substantial resources, distribution channels, or balance sheet strength to ensure its success.