Visa Sees Increased Institutional Support Amid Stablecoin Growth

Visa Inc., a global payments technology company, saw its stock price fluctuate this week. In a recent SEC filing, Sequoia Financial Advisors LLC disclosed that it had boosted its stake in Visa by 4.4% during the second quarter. The fund now owns 277,453 shares of the credit-card processor's stock, valued at $95,191,000.

This acquisition is part of a larger trend where institutional investors are increasing their holdings in Visa. Parvin Asset Management LLC, for example, lifted its position in Visa by 200% in the third quarter, while Virtus Advisers LLC purchased a new stake in shares of Visa in the second quarter valued at $33,000.

Visa's growth is attributed to several factors, including the adoption of stablecoin-linked card programs on its network. The company reported that more than 160 such programs are now active, with related payment volume approaching a $20 billion annualized run rate and rising sharply year over year.