Investment Bank William Blair: Stablecoins Will Become a Catalyst for Visa's Structural Growth

ChainCatcher news, according to The Block, analysts at investment bank William Blair say that Visa's underperforming stock this year may soon see a turnaround, with stablecoins becoming a significant positive factor for the payment giant and acting as a catalyst for Visa's structural growth.

During the company's earnings call on Tuesday, Visa CEO Ryan McInerney confirmed that the company plans to support four types of stablecoins, which are distributed across four different blockchains. Visa will accept these stablecoins and convert them into over 25 traditional fiat currencies.

McInerney also noted that compared to the same period last year, quarterly spending on Visa cards linked to stablecoins has quadrupled, and since 2020, Visa has facilitated over $140 billion in cryptocurrency and stablecoin transactions.