Stablecoin Adoption - Visa and Mastercard indicate stablecoin usage is negligible and poses no immediate threat to their market dominance [1] - The current scale of stablecoin usage is significantly lower than Visa's $15 trillion annual transaction volume [1] Market Suitability - Visa and Mastercard suggest stablecoins are better suited for countries with unstable fiat currencies [1]

智通财经APP获悉，加密货币热潮正加剧美国信用卡双头垄断格局的不确定性。Visa(V.US)与万事达卡(MA.US)高管在近期财报电话会议中，首次面对可能 加速稳定币普及的新立法环境，普遍淡化美元挂钩数字货币对自身支付网络的潜在威胁。尽管两家公司凭借稳定的利润表现和强劲的估值水平为市场提供了 一定安慰，但稳定币运营商Circle Internet Group(CRCL.US)市值突破400亿美元的飙升态势，仍揭示着资本市场对支付领域变革的期待分歧——两组投资者难 以同时保持正确判断。 历史经验显示信用卡巨头具备较强韧性。二季度Visa净利润增长8%至53亿美元，万事达卡增长14%至37亿美元，双双超出分析师预期。依托在美国约70%购 物交易的处理份额(尼尔森数据)，其网络普及率与可靠性构筑了抵御Venmo等新兴支付应用的护城河。 尽管稳定币当前交易规模相较信用卡网络(约15万亿美元年处理量)仍显渺小，且主要应用于法定货币波动剧烈的新兴市场，但单笔费用下降趋势已暴露传统 支付体系的脆弱性。沃尔玛等大型商家开始探索代币支付方案，更预示着变革压力的累积。 目前Visa与万事达卡通过咨询等增值服务部分对冲了收入损失， ...

Core Insights - Visa is expanding its settlement platform to support two additional USD stablecoins: Global Dollar (USDG) and PayPal Dollar (PYUSD), as well as two blockchain networks, Stellar and Avalanche, and a Euro-backed stablecoin, EURC [1] Group 1 - Visa's global growth products and strategic partnerships head, Rubail Birwadker, stated that the company is building a multi-currency and multi-chain infrastructure to meet the needs of global partners [1] - The company believes that when stablecoins are trusted, scalable, and interoperable, they can fundamentally change the way currency flows globally [1]

Stablecoin Market - Stablecoins' transaction volume is 2x Visa's volume [1] Payment Technology - Visa adds Stellar and Avalanche to its settlement stack [1]

Core Insights - Visa is expanding its settlement platform to support additional stablecoins and blockchains, enhancing its capabilities in the digital asset space [2][3] Group 1: Visa's Initiatives - Visa is adding support for two new dollar-backed stablecoins, Global Dollar and PayPal USD, through a partnership with Paxos [3] - The company is also integrating support for two new blockchains, Stellar and Avalanche, alongside existing support for Ethereum and Solana [3] - With the integration of EURC, Visa partners can now access settlements in both USD- and EUR-backed stablecoins, expanding its crypto and treasury infrastructure [4] Group 2: Market Context - The White House has released a report on digital asset policy, emphasizing the importance of stablecoins and warning that delays in adoption could threaten the U.S. dollar's supremacy [5] - The report encourages banking regulators to adopt technology-neutral risk frameworks, reducing punitive measures for banks engaging with blockchain and digital assets [6] - Stablecoins are gaining traction in corporate finance, offering benefits such as near-instant settlement and reduced costs [6] Group 3: Operational Efficiency - Traditional cross-border transactions of $10 million to $30 million can take three to five business days, while stablecoin transactions can settle in four to eight hours [7]

Visa宣布正扩大其结算平台，以支持两种额外的美元稳定币全球美元(USDG)和PayPal美元(PYUSD)、两 个区块链Stellar和Avalanche，以及以欧元为支撑的稳定币EURC。Visa全球增长产品及战略伙伴关系负 责人Rubail Birwadker表示，Visa正在建立一个多币和多链的基础，以帮助满足全球合作伙伴的需求。集 团相信，当稳定币被信任、可扩展且具互操作性时，可以彻底改变货币在全球流动的方式。两个新加入 的区块链加入了Visa已经支持的其他两个链，分别是以太坊和索拉纳，而Circle的EURC的加入将使该公 司的结算能力扩展到超过25种法定货币。（格隆汇） ...

Group 1: Financial Performance - VISA achieved net revenue of $10.2 billion in Q3 FY25, a year-on-year increase of 14%, exceeding expectations[2] - Earnings per share (EPS) increased by 23% year-on-year, also surpassing company forecasts[2] - Service revenue grew by 9% year-on-year, outperforming the previous quarter's growth of 8%[2] Group 2: Revenue Composition - Data processing revenue rose by 15%, with transaction processing volume increasing by 10%[2] - International transaction revenue increased by 14%, higher than the 11% growth in cross-border transaction volume[2] - Other revenue saw a significant increase of 32%, driven by consulting and value-added services[2] Group 3: Strategic Developments - VISA's stablecoin strategy supports four stablecoins and facilitates settlements with 25 fiat currencies, enhancing its platform capabilities[4] - The company emphasizes the unique advantages of stablecoins in emerging markets and cross-border fund transfers[4] - Management expects "high single digits to low double digits" growth in adjusted net revenue for Q4 FY25[5] Group 4: Market Trends - The consumer payment sector maintained steady expansion, with payment vouchers increasing by 7% year-on-year[3] - The global penetration rate of contactless payments reached 78%, with major U.S. cities achieving rates as high as 85%[3]

Core Viewpoint - Visa remains a dominant player in the global payments industry, showing strong performance in 2025 despite macroeconomic challenges, with a year-to-date total return exceeding 11% compared to the S&P 500's approximately 9% [1] Financial Performance - In fiscal Q3 2025, Visa reported revenues of just under $10.20 billion, reflecting a 14% revenue growth, surpassing estimates of around 11% [2] - Adjusted earnings per share (EPS) reached $2.98, a 23% increase, exceeding the analyst estimate of 17% [2] - Q4 guidance indicates "high-single-digit to low-double-digit" revenue growth and EPS growth in the "high single-digit range," which fell short of analyst expectations [4] Business Drivers - Payment volume growth remained solid at 8% in constant currency, indicating resilience in consumer spending despite trade tensions [5] - Visa's value-added services (VAS) experienced robust growth of 26% in constant currency, up from 22% in the previous quarter, enhancing Visa's market position [7] Consumer Trends - Consumer spending is described as "resilient," which is crucial for Visa as it accounts for about two-thirds of the U.S. GDP [6] Strategic Initiatives - Visa Direct, the company's remittance platform, saw a 25% increase in transactions and added several new banks, highlighting its potential for growth in cross-border transactions [10] - The company is integrating stablecoins into Visa Direct, which may facilitate faster cross-border money movement and cater to emerging market economies [11][12] Market Outlook - Despite a drop in shares post-earnings release, Visa's long-term strength is attributed to its global scale, technological readiness, and strategic initiatives [13] - The conservative guidance may reflect caution amid macro uncertainties but does not undermine Visa's strategic momentum [14]

Analyst's Disclosure:I/we have a beneficial long position in the shares of V either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. At a market capitalization of $685B, Visa Inc. (NYSE: V ) ranks #14 of the U.S. biggest publicly traded companies. Visa is a global firm operating ...

The people who have sold Visa tend to be really stupid. Now, I don't know how they did in their SATs or what schools they got into. It doesn't really matter.But I do think that this is another great quarter from Visa. Well, that was Jim Kramer earlier this morning after the report. Stock is up 1%.Where'd you go to school. We all Jim Leventhal sold you sold Visa. Yeah. Yeah.You didn't just trim Visa, you sold Visa. Yeah. Um why did you do that.Uh let me just start by saying there's no forever stock. Okay. Do ...