Visa Details Stablecoin Strategy Amid Q3 Revenue Growth
Visa's third-quarter revenue reached $11.6 billion, up 14% from last year, driven by growth in payments volume and processed transactions.
The company outlined its stablecoin strategy during the earnings call, stating it has invested across multiple layers of the ecosystem.
Visa is investing in blockchain, issuance, wallets, infrastructure, orchestration, and applications. This quarter saw progress in the issuance and application layers.
Visa joined the OpenStandard consortium to issue the OpenUSD stablecoin for global money movement.
The company's stablecoin platform will enable partners to settle with Visa in stablecoins, provide wallet-as-a-service infrastructure, and move money between fiat currencies and stablecoins. It will integrate with Pismo to support tokenized deposits for financial institutions.
Visa sees AI as a complementary technology to stablecoins, which are reshaping commerce's backend.