Visa Sidesteps Stablecoin Rivalry, Keeps Focus on Core Business

Visa CEO Al Kelly recently sidestepped labeling Open USD as a challenger to Tether and USDC. In an interview, he emphasized that 'our role is not to pick winners.' This statement comes at a time when stablecoins are under scrutiny due to their market capitalization and potential risks.

Kelly's comments suggest that Visa is focusing on its core business rather than taking a stance on the growing stablecoin market. Stablecoins have gained popularity as a hedge against cryptocurrency price volatility, but some regulators and experts have raised concerns about their use in illicit activities.