Visa Launches Open USD Stablecoin; Pilots Hit ~$7B Run Rate
V sits 17% above its 52-week low of $293.89.
Summary
Visa has launched Open USD, its own USD-pegged stablecoin, leading a consortium to issue it with no fees or volume limits for minting and redemption. This strategic move positions Visa in the rapidly evolving digital asset and blockchain payments space. The company also reported that its stablecoin settlement pilots have already reached an impressive ~$7 billion annualized run rate, demonstrating early adoption and potential for this new payment rail. This initiative could be a significant long-term growth driver and helps Visa maintain its competitive edge in global payments.
At the time of this announcement, V was trading at $342.95 on NYSE in the Finance sector, with a market capitalization of approximately $646.4B. The 52-week trading range was $293.89 to $359.66. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.