Visa CEO Ryan McInerney has made it clear that the company does not plan to favor any single stablecoin as competition in the digital payments market continues to grow.
During Visa’s fiscal third-quarter earnings call on July 28, McInerney said Visa will remain “multi-coin, multi-chain,” meaning the company intends to support multiple stablecoins and blockchain networks rather than choosing one winner.
His comments come as Open USD (OUSD), a new stablecoin being developed by the Open Standard consortium, prepares to launch later this year.
Visa is one of more than 140 companies participating in the Open Standard initiative. Other members include major firms such as Mastercard, Stripe, Coinbase, BlackRock, BNY, and Google.
Despite its involvement, Visa says its support for Open USD should not be viewed as an exclusive commitment. The company already works with multiple stablecoins and blockchain networks through its payment, settlement, and money-transfer services.
Open USD is expected to launch later in 2026. According to the project’s plans, businesses will be able to mint and redeem the stablecoin without fees or volume restrictions. The consortium also intends to share much of the reserve-generated revenue with participating organizations.
This approach differs from existing market leaders such as Tether’s USDT and Circle’s USDC, where reserve management and related revenue are controlled by the issuing company.
Visa has also been expanding its own stablecoin infrastructure. Earlier this month, the company introduced the Visa Stablecoin Platform, which allows banks, fintech firms, and crypto companies to access stablecoin services including minting, burning, storage, and transfers.
The platform initially supports Open USD but is designed to work with other stablecoins as well. Visa says the goal is to provide institutions with flexible access to digital payment systems without requiring them to build their own infrastructure from scratch.
Open USD has not yet launched, and details such as its initial supply and transaction volume remain unknown. As a result, it is still too early to determine how it will compete against established stablecoins like USDT and USDC.
For now, Visa’s message is clear: the company plans to support whichever stablecoins and blockchain networks gain real-world adoption, rather than committing to a single digital asset.
