Visa Stays Neutral on Open USD Amid Stablecoin Landscape Evolution
Visa's Open USD stablecoin has been compared to Tether's USDT and Circle's USDC, but CEO Ryan McInerney refused to position it as a direct competitor. In the company's fiscal third-quarter 2026 earnings conference call, he emphasized a neutral stance focused on supporting the broader stablecoin landscape.
McInerney stated that Visa aims to stay multi-coin and multi-chain, enabling clients to access the stablecoin ecosystem in a secure and scalable manner. The company's role is not to select winners but rather to provide infrastructure support for various stablecoins.
Visa has been investing across multiple layers of the stablecoin stack, including blockchain infrastructure, issuance, wallets, and applications. The company recently joined Open Standard and launched the Visa Stablecoin Platform, which supports minting, movement, and management of stablecoins.