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Visa CEO says Open USD is not meant to challenge USDT or USDC

Visa CEO says Open USD is not meant to challenge USDT or USDC

Open USD is launching on Ethereum through a 140-plus-member consortium, with Visa backing it as part of a broader multi-coin, multi-chain stablecoin infrastructure strategy.

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Fact Check
The Block's report from Visa's Q3 earnings call directly confirms CEO Ryan McInerney characterized Visa's stance as 'multi-coin, multi-chain' and 'not to pick winners,' declining to frame OUSD as a challenger to USDC and USDT — matching the headline claim. crypto.news independently corroborates the multi-coin/multi-chain strategy and the 140+ member Open Standard consortium. U.Today confirms the Ethereum launch and 140+ company consortium. Multiple independent sources reporting the same event align on all claim elements.
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Summary

Visa CEO Ryan McInerney said Open USD, or OUSD, should not be seen as a direct rival to USDT or USDC, saying Visa does not plan to pick winners and will keep a multi-coin, multi-chain stablecoin approach. Open USD is launching natively on Ethereum as an institutional-focused stablecoin governed by Open Standard through a consortium of more than 140 companies, including Visa, Mastercard, Stripe, BlackRock, BNY, Coinbase and Western Union. Company materials say reserve-asset profits will be shared with ecosystem partners after a management fee, while participating institutions will be able to issue and burn tokens without fees or volume caps. Visa joined the consortium last month and this month launched an internal stablecoin platform for banks and fintechs that initially supports OUSD. Analysts and market projections cited in the materials suggest OUSD could become a meaningful challenger to incumbent issuers and newer offerings such as Ripple’s RLUSD, even as Visa frames it as part of a broader interoperability strategy.

Terms & Concepts
  • stablecoin: A digital token designed to maintain a stable value, typically by being backed by reserve assets.
  • multi-chain strategy: An approach that supports more than one blockchain network instead of relying on a single chain.
  • decentralized governance: A management structure where control is shared across participants rather than held by one entity.