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Visa Plays It Cool on Open USD as Stablecoin Rivals Heat Up

Guavy AI Editorial Team
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Visa's CEO downplayed the threat of Open USD to Tether's USDT and Circle's USDC, stating that the payments company will remain neutral among stablecoins. Visa is one of over 140 companies supporting Open Standard, the independent consortium developing Open USD.

During a recent earnings call, Ryan McInerney said Visa would continue its 'multi-coin, multi-chain' strategy, allowing clients to securely connect to whichever stablecoins and networks gain adoption.

The company's involvement in Open USD does not imply an exclusive commitment to the token. Visa supports several stablecoins and blockchains through settlement, card, and money-movement products.

Open Standard plans to launch Open USD later this year, with a model that differs from USDT and USDC, where the issuing company controls reserve management and related economics.

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