Visa CEO Ryan McInerney discussed the impact of the new regulatory act on the stablecoin industry and the company's position amidst changes.
Passage of the GENIUS Act
Following the passage of the GENIUS Act by the US Senate, Visa shares lost value. However, CEO Ryan McInerney stated that Visa welcomes the process. According to him, the new act will provide clarity in the regulation of stablecoins.
Potential of Stablecoins
McInerney noted that Visa has been developing infrastructure for stablecoins for years. "We have been embracing stablecoins for a long time. We have built stablecoin-based solutions on Visa infrastructure and are working to develop new use cases on a global scale," he said.
Visa's Market Position
Ryan McInerney discussed the potential threats to Visa from large companies like Amazon or Walmart issuing their own stablecoins. "Visa offers trust, ease of use and scale. When there are 5 billion Visa cards, 14 billion tokens and 150 million businesses choosing Visa today around the world, that’s where we stand out," he clarified.
Thus, despite questions related to competition and regulation, Visa continues to actively develop in the area of stablecoins and aims to expand its capabilities in international markets.
