European Parliament Backs Offline Digital Euro; Advisors Asset Management Trims Visa Holding by 2.7%
European Parliament backed a digital euro plan enabling online and offline payments across the bloc. Advisors Asset Management sold 5,532 Visa shares in Q3, trimming its stake by 2.7% to 202,052 shares, signaling cautious institutional sentiment.
1. European Parliament Approves Digital Euro Proposal
European Parliament voted to back a digital euro usable both online and offline, aiming to provide a central bank digital currency complement to existing payment systems. The proposal seeks to ensure EU citizens can make instant, secure transactions without intermediaries, potentially reshaping cross-border payment networks and influencing transaction volumes for card processors like Visa.
2. Advisors Asset Management Reduces Visa Stake
In the third quarter, Advisors Asset Management sold 5,532 Visa shares, reducing its holdings by 2.7% to 202,052 shares. The modest divestment may reflect cautious sentiment among institutional investors and could signal reevaluation of sector exposure given evolving digital payment landscapes.