Visa reported fiscal third-quarter revenue of $11.6 billion, a 14% increase year-on-year, driven by double-digit growth in payments volume, cross-border volume, and processed transactions.
During the earnings call, Visa detailed its strategy to invest across multiple layers of the stablecoin ecosystem. The company has joined the OpenStandard consortium, which plans to issue the OpenUSD stablecoin for global money movement.
Visa's fiscal third-quarter revenue, up 14% year-on-year.
The Visa stablecoin platform is designed to enable partners to settle with Visa in stablecoins, provide onchain wallet-as-a-service infrastructure, and move money between fiat currencies and stablecoins, starting with OpenUSD. The platform will also integrate with Pismo to support tokenized deposits for financial institutions, with plans to add third-party tokenized deposit infrastructure providers in the future.
Our role is not to pick winners.
The CEO's comment was framed as a refusal to label OpenUSD as a direct challenger to existing stablecoins like Tether or USDC. Visa intends to 'remain multi-coin, multi-chain', according to the CEO.
Visa describes stablecoins and artificial intelligence (AI) as complementary technologies and identifies AI as a long-term growth area. The company's cross-border volume increased 13% year-on-year (or 12% excluding intra-Europe), and processed transactions rose by 10%.
Increase in Visa's cross-border volume.