Keefe Bruyette sees limited near-term risk to Visa (V) and MasterCard (MA) after the Wall Street Journal reported the large retailers are exploring stablecoin payments and potentially bypass the card payment rails. Discussions are in the early stages, and any decisions would depend on passage of the Genius Act, which aims to establish a regulatory framework for stablecoins, the analyst tells investors in a research note. Visa is down 3% to $362.01 in premarket trading while MasterCard is down 2% to $577.80.
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