Visa Keeps Multi-Coin Stablecoin Strategy Amid Growing Digital Dollar Adoption

Visa CEO Ryan McInerney confirmed on an earnings call that his company will remain neutral among stablecoins as digital dollar adoption rises. The payment network sees itself as infrastructure, not a token backer. This stance is reflected in its internal platform launched earlier this month to facilitate stablecoin use by banks and fintechs, with Open USD (OUSD) as the initial launch partner.

The growing interest in stablecoins has led some analysts to speculate that OUSD could emerge as a rival to Tether's USDT and Circle's USDC. Bernstein cut its price target for Circle to $140 on Wednesday, underscoring how new stablecoin projects are reshaping investor expectations for the sector.

Mizuho analysts Dan Dolev and Alexander Jenkins described Visa as the 'stablecoin of stablecoins', arguing that a growing number of digital dollar options could increase demand for a central network that links them. In this view, greater interoperability between stablecoins would strengthen Visa's position in digital payments.