Visa CEO Ryan McInerney said on the company’s July 28 earnings call that Visa will keep a neutral approach to stablecoins across multiple currencies and blockchains, rather than backing a single winner. He said the company’s role is to help clients connect securely to the stablecoins and networks that gain adoption.
McInerney also said Visa is one of more than 140 supporting companies behind Open Standard, while stressing that this should not be read as an exclusive commitment to Open USD. The comment draws a line between Visa’s support for an industry standard effort and any suggestion that it is tying its long-term stablecoin plans to one token.
Visa’s stablecoin platform, launched on July 16, initially supports Open USD. At the same time, the company said the platform will remain interoperable with its existing global settlement products. The remarks were reported by crypto.news.
Visa CEO Ryan McInerney said on the company’s July 28 earnings call that Visa will keep its stablecoin strategy neutral across multiple currencies and blockchains. He said the company will not bet on a single winner, and instead aims to help clients connect securely to the stablecoins and networks that see adoption.
McInerney added that Visa is one of more than 140 supporting companies in Open Standard, but said that does not amount to an exclusive commitment to Open USD.
Visa’s stablecoin platform, launched on July 16, initially supports Open USD. The company said the platform will also keep interoperability with its existing global settlement products. The remarks were reported by crypto.news.
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