Visa Announces Strategic Investments and Workforce Reduction Amid Strong Q3 Earnings
Visa Inc. (NYSE: V) reported strong third-quarter earnings for fiscal year 2026, with $11.6 billion in net revenue and non-GAAP EPS of $3.32, surpassing market expectations. During the call, CEO Ryan McInerney outlined a dynamic investment strategy targeting all layers of the stablecoin ecosystem, including blockchain technology, issuance platforms, wallets, infrastructure, orchestration tools, and applications. McInerney highlighted Visa's partnership with Open Standard to issue the OpenUSD stablecoin and introduced the Visa Stablecoin Platform for minting, movement, and management. The platform will integrate with Pismo, a cloud-native issuer processing system acquired by Visa in January 2024. When questioned about competition from major players like Circle (CRCL) and Tether, McInerney emphasized OpenUSD's potential to scale as a payment-based stablecoin. The company also announced plans to eliminate approximately 2,600 jobs—about 7% of its workforce—to improve efficiency.
Tickers: $CRCL
Topics: Earnings Layoffs Partnerships Stablecoins