Visa outlines stablecoin strategy during Q3 earnings call
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During its fiscal third-quarter earnings call, Visa reported revenue of $11.6 billion, a 14% increase compared to the same period a year earlier. This growth was supported by double-digit increases in payments volume, cross-border volume, and processed transactions. Specifically, cross-border volume grew 13% year over year (12% excluding intra-Europe), while processed transactions rose by 10%.
In the call, Visa detailed its stablecoin strategy, emphasizing investments across multiple layers of the stablecoin ecosystem, including blockchain, issuance, wallets, infrastructure, orchestration, and applications. The company highlighted progress in both issuance and application layers and announced that it had joined the OpenStandard consortium, which aims to issue the OpenUSD stablecoin for global money movement.
Visa described its new stablecoin platform as enabling partners to settle transactions using stablecoins, offering onchain wallet-as-a-service infrastructure, and facilitating the movement of money between fiat currencies and stablecoins, initially focusing on OpenUSD. The platform is also set to integrate with Pismo to support tokenized deposits for financial institutions, with intentions to include additional third-party tokenized deposit infrastructure providers in the future.
Additionally, Visa sees artificial intelligence (AI) as a complementary technology to stablecoins, considering stablecoins as reshaping the backend of commerce, while AI transforms the frontend. The company anticipates that "agentic commerce" powered by AI will expand its addressable market and contribute to long-term growth.