Visa Stock Price Drops Amid Stablecoin Launch Plans
Visa's stock price dropped 1.6% on Wednesday, trading as low as $359.33 and last closing at $360.12.
The company saw approximately 7.39 million shares traded during mid-day, a decline of 4% from its average daily volume.
Visa recently joined over 100 companies in launching OUSD, a dollar-pegged stablecoin with planned liquidity of more than $1 billion.
This move could help Visa influence emerging stablecoin payment standards and create new transaction opportunities.