Stablecoins bring consistency. How much of your portfolio is in $USDC or $USDT? ⚖️ ...

🗞️ Need to catch up on the news? Here's our top 10 from today:🔸 President Trump signed an Executive Order to further modify reciprocal tariff rates.🔹 President Trump signed an executive order raising tariffs on Canada from 25% to 35%, effective August 1, 2025.🔸 Ethereum unveils 10-year “Lean Ethereum” roadmap, aiming for 10,000+ TPS, quantum resistance, and SNARK-based upgrades without sacrificing decentralization.🔹 Coinbase to launch tokenized stocks and prediction markets for U.S. users, expanding into an ...

Network Activity - BNB Chain has been the most active network in the past three months [1] - BNB Chain processes approximately 429 million stablecoin transactions per month [1] - BNB Chain accounts for over 30% of the stablecoin transaction share [1] Market Position - BNB Chain surpassed Solana in mid-May in terms of network activity [1]

Crypto things you might have missed:-US crypto report mentions some of the top altcoins-BTC reserve + crypto stockpile update-Institutions are piling into ETH-Bernstein says it's 'still early' in the bull cycle📈-Visa supports stablecoins on @avax + Stellar!LINK IN BIO ...

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]

Financial Performance - The company reported a 16% increase in net revenues and a 12% increase in adjusted net income on a non-GAAP currency neutral basis compared to the previous year [5][33] - Operating expenses rose by 14%, with operating income increasing by 17% [34] - Net income and EPS increased by 12% and 14% respectively, with EPS reaching $4.15, including a $0.09 contribution from share repurchases [34] Business Line Performance - Payment Network net revenue grew by 13%, driven by domestic and cross-border transaction growth [38] - Value-added services and solutions net revenue increased by 22%, with acquisitions contributing approximately 4 percentage points to this growth [38] - The company continues to expand its partnerships with major retailers and fintechs, enhancing its service offerings [7][10][11] Market Performance - Worldwide gross dollar volume (GDV) increased by 9% year-over-year, with U.S. GDV up by 6% and international GDV up by 10% [35] - Cross-border volume increased by 15% globally, reflecting growth in both travel and non-travel related spending [36] - Card present transactions grew significantly, with contactless transactions now representing 75% of all in-person switch purchase transactions [37] Company Strategy and Industry Competition - The company is focused on diversifying its business model and enhancing its product offerings to capture new market opportunities [6][22] - The strategy includes leveraging advanced analytics, loyalty programs, and security solutions to differentiate from competitors [7][18] - The company is also expanding its presence in the commercial payments space, targeting small businesses and fleet card solutions [22][73] Management Commentary on Operating Environment and Future Outlook - Management remains optimistic about growth, citing strong consumer spending supported by low unemployment and wage growth [6][44] - The company is tightening its full-year net revenue outlook to the high end of the previously shared range, expecting low teens growth on a currency neutral basis [46] - Ongoing geopolitical and economic uncertainties are acknowledged, but the company believes its diversified business model will mitigate risks [44][45] Other Important Information - The company repurchased $2.3 billion worth of stock during the quarter, with an additional $1 billion planned through July 2025 [34] - The effective tax rate is expected to be in the 20% to 21% range for both Q3 and the full year [50] Q&A Session Summary Question: Impact of lapping portfolios on growth metrics - Management confirmed that the lapping of portfolios, including Citizens and Wells Fargo, has had a pronounced impact on year-over-year growth metrics and will continue to do so [53][55] Question: Differentiation in value-added services - The company emphasized its carefully curated portfolio of value-added services, particularly in cybersecurity and consumer engagement, which allows for pricing power [62][66] Question: Cross-border volume growth expectations - Management noted that cross-border volumes are well diversified and continue to grow, with travel volumes representing about 60% of total cross-border volumes [95] Question: Client incentives and rebates - Management indicated that client incentives as a percentage of payment network assessments are expected to increase in the second half of the year, driven by competitive market dynamics [99] Question: Market share in regions with strong local players - The company is focused on differentiating its product set in markets like Brazil and India, emphasizing partnerships and competitive solutions to capture market share [111]

Regulatory Landscape - Hong Kong is preparing to integrate stablecoins into its financial system with new regulations [1] - Licensed issuers must conduct full KYC (Know Your Customer) on holders to combat money laundering, starting August 1 [1] Market Concerns - HKMA (Hong Kong Monetary Authority) chief Eddie Yue cautioned about market bubbles driven by hype [1] Industry Focus - The report raises the question of whether this is the future of compliant stablecoins [1]

Industry Adoption & Partnerships - Visa officially supports Avalanche blockchain for stablecoin settlement services [1] - Visa adds support for PYUSD, USDG, and EURC stablecoins [1] - Stellar and Avalanche join Ethereum and Solana for onchain settlement [1] Blockchain Technology - Avalanche is positioned as a platform where capital connects [1]

Market Trends - Interest in stablecoins is experiencing rapid growth [1] - Institutional adoption of stablecoins has begun [1]

🚨FEDERAL CRYPTO TRADING IS COMING?Trump’s White House just previewed its first full crypto policy—stablecoins in, CBDCs out, and DeFi gets a green light. Catch up now ⬇️https://t.co/WRoCVh7GbH ...