During a recent podcast, Frank Rotman, Chief Investment Officer of QED Investment, commented, “If you don’t have a stablecoin solution in the world of money movement, I think you’re going to miss the boat.” Cuy Sheffield, Visa’s head of crypto, responded ‘love this prediction’ on X.
With PayPal launching a stablecoin and the Governor of the Bank of Korea fearing a Visa or Mastercard stablecoin launch, should we read anything into this? Our view is yes, but not in the way you think.
We’re less confident about Visa launching a Visa USD Coin. Visa’s core offering is providing cards and a backbone payment system. The equivalent in the stablecoin world would be for Visa to provide a stablecoin management platform that other firms can use for issuance on multiple blockchains. It could be something similar to Japan’s Progmat Coin platform. Plus, Visa will definitely offer a wallet. It needs a digital currency alternative to cards.
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