Visa Inc. (V) Unveils USDC Stablecoin Settlement in the US

Core Insights - Visa Inc. has introduced USDC stablecoin settlement in the United States, marking a significant step in enhancing stablecoin settlement across its network and modernizing the settlement layer for global commerce [1][2]. Group 1: USDC Settlement Introduction - The USDC settlement will enable issuer and acquirer partners in the US to settle transactions using Circle's USDC, a fully reserved, dollar-denominated stablecoin, facilitating faster fund movements on the blockchain and providing 7-day availability [2]. - Visa's stablecoin support has already surpassed $3.5 billion in annualized volume as of November, indicating strong demand and adoption [3]. Group 2: Strategic Partnerships and Market Position - Visa has partnered with Cross River Bank and Lead Bank to facilitate the stablecoin settlement, enhancing operational resiliency and treasury efficiency for financial institutions [2][4]. - The introduction of USDC settlement builds on Visa's global experience with stablecoin settlements, extending from Europe to Latin America and CEMEA [3]. Group 3: Analyst Perspective - Bank of America analyst Mihir Bhatia has upgraded Visa's stock rating to Buy from Neutral, setting a price target of $383, citing attractive return potential following recent underperformance [5].