Visa Inc. (V) Nosedives as Stablecoins Take Center Stage

We recently published a list of 10 Stocks Take A Shocking Nosedive. Visa Inc. (NYSE:V) is one of the worst-performing stocks on Thursday.

Visa Inc. dropped its share prices by 4.88 percent on Wednesday to end at $340.38 apiece as investor sentiment was dampened by the Senate’s passage of the stablecoins bill, posing threats to traditional card payments.

Stablecoins are a type of currency designed to maintain a 1:1 ratio with the US dollar and is widely used by cryptocurrency traders to move funds between tokens.

Under the administration of President Donald Trump, Stablecoins gained momentum as an alternative payments method, emerging as a potential competitor to traditional payments companies, including Visa Inc. (NYSE:V).

A financial analyst reviewing stock prices on a graph with a positive outlook.

In the second quarter of fiscal year 2025, Visa Inc. (NYSE:V) dropped its net income by 2 percent to $4.577 billion from the $4.663 billion registered in the same period last year.

Revenues, however, grew by 9.3 percent to $9.594 billion from $8.775 billion year-on-year.

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.