Visa Sees Growing Stablecoin Adoption Amid Institutional Investor Shift
Rockbridge Asset Management LLC has reduced its position in Visa Inc., a credit-card processor, by selling shares during the second quarter. The institutional investor now owns approximately 21,876 shares of the company's stock, representing about 4.8% of Rockbridge Asset Management LLC's holdings.
The value of Rockbridge Asset Management LLC's holdings in Visa was $7,505,000 at the end of the reporting period. This is not an isolated move by Rockbridge; other hedge funds and institutional investors have also made changes to their positions in Visa during the same quarter.
Visa has seen a series of positive developments, including the expansion of stablecoin adoption on its network. Rain CEO recently stated that more than 100,000 merchants receive stablecoin-funded payments settled through Visa without realizing the source of funds.
The company is also pursuing new opportunities in blockchain settlement and has secured partnerships with several firms, including Kraken, which launched a U.S. crypto-and-fiat debit card on Visa's network. Analysts have highlighted Visa's growth potential and its increasing relevance in the payments industry.