Visa Backs Multiple Stablecoins, Downplays OpenUSD on Earnings Call

cryptotechfintech 1 posts · 1 accounts

Visa stated on its earnings call that it will maintain a multi-coin and multi-chain strategy for stablecoins, declining to prioritize the OpenUSD project over competitors such as Circle and Tether. The company will assist clients in connecting to the broader stablecoin ecosystem securely and at scale, regardless of which network ultimately gains adoption.

Partners involved with the OpenUSD project have limited their commitment to a soft letter of intent rather than a strategic bet. There are currently no arrangements for meaningful resource allocation, distribution channels, or balance sheet backing to advance the stablecoin project.

From the sources (1 posts)

@lorenzoark

On @Visa earnings call, the company was asked whether OpenUSD would compete with @circle , @tether, and the established stablecoin players. Visa’s response: “Visa, going forward, will remain multi-coin, multi-chain. Our role is not to pic

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