Visa Shares Rise 2.15% to $350.48 as It Joins Open USD Stablecoin Launch
V•Visa closed at $350.48 on July 1, marking a 2.15% gain and outperforming major indices during the session. The company is partnering with Coinbase and Mastercard to launch the Open USD stablecoin later this year, positioning to capture new transaction-fee revenue streams.
1. Stock Performance
Visa shares closed at $350.48 on July 1, up 2.15% from the prior session, outpacing a flat S&P 500. The stock’s resilience reflects investor confidence in Visa’s fee-based business amid broader market volatility.
2. Open USD Partnership
Visa announced it will collaborate with Coinbase and Mastercard to issue Open USD, a compliant stablecoin set to debut later this year. This marks Visa’s first direct foray into stablecoin issuance alongside major fintech and crypto players.
3. Revenue Implications
By backing Open USD, Visa aims to integrate blockchain-based payments into its network, potentially unlocking new cross-border and real-time transaction fees. Analysts see the move as a strategic expansion of Visa’s existing fintech services into digital assets.
