It could also protect the payments company if stablecoin market share changes as new issuers enter the sector. Visa was among more than 140 companies that backed Open Standard last month, joining Stripe, Mastercard, BlackRock and Coinbase in supporting a consortium planning to launch the Open USD stablecoin later this year. That gives Open USD an early route into Visa’s payment infrastructure, although it does not mean the company will favor OUSD over competing products. Mizuho analysts described Visa as the potential “stablecoin of stablecoins,” arguing that individual digital dollars could become increasingly interchangeable while Visa captures value from moving funds between them. Related: Visa Partners With Zerohash to Expand Stablecoin Payments WorldwideVisa’s own statements support the view that its involvement should not be interpreted as an exclusive endorsement.