Visa Unveils Comprehensive Stablecoin Strategy During Q3 Earnings Call, Reports $11.6B Revenue

During its fiscal third-quarter earnings call on July 28, 2026, Visa reported a 14% revenue increase to $11.6 billion and detailed its full-stack stablecoin strategy. The payments giant is investing across the stablecoin lifecycle, leveraging its new Visa Stablecoin Platform and the OpenUSD consortium to target 15,000 financial institutions. Visa is also deploying over 150 AI applications to drive agentic commerce, intensifying competition with crypto-native incumbents like Circle.

Visa Q3 2026 earnings

• ▪Visa's payments volume grew 10% in constant dollars to cross $4 trillion in a single quarter for the first time during its fiscal third quarter of 2026.
• ▪Visa reported earnings per share of $3.32, up 11% from a year earlier, for its fiscal third quarter of 2026.
• ▪Visa reported net revenue of $11.6 billion, up 14% from a year earlier, for its fiscal third quarter of 2026.
• ▪Visa disclosed workforce reductions with $563 million in severance costs during its fiscal third-quarter earnings call on July 28, 2026.

Visa stablecoin infrastructure strategy

• ▪Visa announced on July 28, 2026, that it is investing in each layer of the stablecoin stack, including blockchain, issuance, wallets, infrastructure, orchestration, and applications.
• ▪The Visa Stablecoin Platform integrates with Visa-owned Pismo to support tokenized deposits for financial institutions, with plans to add third-party tokenized-deposit providers later.
• ▪The Visa Stablecoin Platform, launched in July 2026, allows partners to settle with Visa in stablecoins, provides onchain wallet-as-a-service infrastructure, and moves money between fiat and stablecoins.

OpenUSD consortium integration

• ▪The OpenUSD stablecoin is designed as enterprise infrastructure for global money movement featuring zero-fee minting and partner reserve-sharing.
• ▪Visa reiterated on July 28, 2026, that it has joined the Open Standard consortium, a coalition of over 140 firms backing the OpenUSD stablecoin.

AI-powered commerce applications

• ▪Visa is reorganizing some of its product teams into smaller "agentic squads" to support its artificial intelligence and agentic commerce initiatives.
• ▪Visa deployed more than 150 artificial intelligence-powered applications over the year preceding July 2026.

Circle competitive positioning

• ▪Circle's stock fell 16% after the OpenUSD coalition was unveiled in June 2026.
• ▪Circle acquired IBM's blockchain patent portfolio to build a defensive intellectual property moat against rivals.

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