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During an earnings call, CEO Ryan McInerney said Visa’s role is “not to pick winners.”Visa is among the many companies that last month supported launching the Open USD stablecoin, viewed by some as a competitor to USDC and USDT.Ark Invest said it appears Visa is interested in Open USD, but it doesn’t necessarily view it as a “strategic bet.”

USAT, Tether’s GENIUS Act-compliant stablecoin issued by Anchorage Bank, is launching on Celo, marking its second mainnet deployment since going live in January.Celo’s gas abstraction means USAT can be used to pay for gas on the blockchain, meaning users will not have to hold multiple tokens to make USAT transactions.

Optimistic rollups like Optimism, Base, and Arbitrum have continued to dominate most in terms of TVL.The following is an excerpt from The Block’s Data and Insights newsletter.

Four major US banks are jointly developing an interbank tokenized deposit network.The Clearing House is targeting a launch in the first half of 2027.Multinational companies will initially receive access to programmable treasury and cross-border payment tools.Banking groups are separately seeking tighter stablecoin reward rules under the CLARITY Act.

The IMF has urged Brazil to strengthen oversight of stablecoins as cross border crypto flows continue to grow faster than traditional capital movements.The fund said Brazil’s crypto market has become more connected with the financial system while gaps remain in stablecoin rules, customer protection and AML compliance.IMF analysis found stablecoin purchases are two to three times more sensitive to global shocks than portfolio investment and foreign direct investment.Brazil already bars virtual assets from settling payments through regulated foreign exchange channels while allowing crypto trading and stablecoin use outside that framework.Dollar backed stablecoins continue to account for a large share of Brazil’s crypto activity even as regulators tighten oversight of the sector.

Two Argentine banking backed financial groups are developing peso stablecoins for institutional payments through separate crypto subsidiaries.The projects focus on programmable treasury payments, collateral management, and onchain settlement while banks remain barred from offering crypto services directly.BIND Group is building its stablecoin through BEN, while Petersen Group’s DIPE project has already published a whitepaper.The initiatives come as Argentina weighs easing banking restrictions on crypto services and stablecoin adoption continues to grow across Latin America.