William Blair predicts a strong Visa recovery with stablecoins.

• Stablecoins boost Visa's international payments.
• Analysts project a strong recovery in stocks.
• Visa's use of stablecoins quadruples.

Visa may be about to turn the page after a year of underperformance considered by the market. According to analysts at William Blair, stablecoins are becoming a relevant catalyst for the company's growth, especially in cross-border payments in the B2B sector.

During Tuesday's earnings call, CEO Ryan McInerney confirmed that the payments giant is adding support for four stablecoins across four blockchains, with acceptance and conversion in more than 25 fiat currencies. McInerney also highlighted that spending with Visa cards linked to stablecoins has quadrupled year-over-year and that the company has moved over $140 billion in crypto and stablecoins since 2020.

In an analysis sent to clients, Andrew Jeffrey and Christopher Kennedy of William Blair stated that the company is well-positioned to capture the growth in global adoption of stablecoins. According to them, the greatest benefits extend beyond domestic payments:

“The real opportunity for stablecoins lies in international payments, in our opinion. Stablecoins can drastically reduce the cost of international B2B trade, accelerate settlement, and reduce errors.”

Analysts point out that cross-border payments currently represent less than 15% of the volume processed by Visa. However, with the advancement of tokenization and the fragmentation of traditional banking systems, the company would have room to expand its market share in an estimated US$20 trillion annually.

Jeffrey and Kennedy also mentioned that the GENIUS Act in the US is accelerating the use of blockchain and partnerships with financial institutions for stablecoin solutions. Visa has already started pilot tests for this type of payment and is consolidating its multi-layered approach to tokenization and digital settlement.

Although Visa has risen approximately 10% year-to-date in 2025, it still lags behind the S&P 500's 17% gain. Analysts believe this difference is likely to be corrected: the underperformance is considered "unsustainable," and they project a "stunning recovery" for the stock, with potential appreciation exceeding 15% in 12 months.

The investment bank noted that it has a business relationship with Visa and may receive compensation for services in the future, in accordance with regulatory transparency practices.