The numbers are in: Visa generated $11.6 billion in fiscal third-quarter revenue, marking a 14% increase compared to the same period last year. The latest earnings report highlights business growth driven by three core pillars: payments volume, cross-border volume, and processed transactions. All three segments posted double-digit gains throughout the quarter.
In detail, cross-border transaction volume grew 13% year-over-year, or 12% when excluding intra-Europe transactions. Meanwhile, total processed transactions across the network climbed 10%. However, these quarterly earnings figures merely serve as the backdrop for the infrastructure overhaul the company recently announced.
A New Path Toward OpenUSD
Visa’s operational focus is now moving deeper into the blockchain space. The company has officially joined the OpenStandard consortium, a group set to issue a stablecoin dubbed OpenUSD. The digital currency is specifically designed to facilitate global money movement.
Its participation in the consortium is paired with the launch of a new platform. Visa is developing a dedicated stablecoin platform to allow business partners to settle transactions over the Visa network entirely using stablecoins.
As a foundation, Visa is building onchain infrastructure operating as a wallet-as-a-service. This infrastructure facilitates two-way conversions between traditional fiat currencies and stablecoins. In its initial launch phase, this bridging feature is restricted to handling OpenUSD flows before opening up to other digital assets.
Why Are Tokenized Deposits Being Pursued?
This integration strategy follows two distinct tracks. In addition to targeting public stablecoins, Visa announced an integration partnership with the Pismo platform. The integration is tailored to support the adoption of tokenized deposits for various financial institutions.
Through this Pismo bridge, banking institutions gain the capability to tokenize their own fiat deposits. This dual approach indicates that the company avoids relying on a single digital instrument to manage cross-border fund flows.
Visa reinforced this perspective by characterizing stablecoins and artificial intelligence (AI) as mutually reinforcing technologies. Both elements are positioned as complementary tools to drive long-term business expansion.
For financial institutions still delaying their entry into the digital asset ecosystem, Visa’s move serves as a clear warning. When the world’s largest payment network is already building standalone onchain platforms for stablecoins and AI, relying on legacy rails risks handing cross-border payment corridors over to competitors.
Reported by Cointelegraph.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
