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Visa – Under the Radar Blue Chip Crypto Play

Can investors get exposure to the promising but volatile world of cryptocurrency and blockchain technology via a blue chip, mega cap company? As unlikely as it sounds, shares of...
Visa – Under the Radar Blue Chip Crypto Play © Reuters. Visa – Under the Radar Blue Chip Crypto Play

Can investors get exposure to the promising but volatile world of cryptocurrency and blockchain technology via a blue chip, mega cap company? As unlikely as it sounds, shares of Visa (NYSE:V) could offer prospective investors just that.

The $490 billion global payments technology company is synonymous with its credit card offerings and payment processing network, but Visa has recently made forays into the world of cryptocurrency, as it keeps an eye on the future. (See Visa stock charts on TipRanks)

While Visa recently grabbed headlines with its purchase of a Cryptopunk NFT (non-fungible token), there is more going on underneath the hood. Visa purchased the NFT for 49.5 ETH (ETH-USD) (approximately $150,000 at time of purchase). It pointed to the fact that due to the increased interest and demand in the space, the company wants to help its “clients and partners participate.” Furthermore, it said that participating in this transaction equips Visa with “a firsthand understanding of the infrastructure requirements for a global brand to purchase, store and leverage an NFT.”

Jarrod Dicker of the Chernin Group told CNBC, “For the first time in a long time, we have an entirely new internet-native business model…for a company like Visa coming in really trying to focus on the future of commerce and transactions, it makes absolute sense for them to start playing around and socializing the notion that this could be a new way to transact, this is the new way of commerce.”

For its part, Visa’s head of blockchain technology stated, “We think NFTs will play an important role in the future of retail, social media, entertainment, and commerce.”

Crypto-Linked Credit and Debit Cards

Beyond NFTs, Visa has been working to partner with dozens of crypto platforms to offer crypto-linked credit cards, and reports that in the first half of 2021, over $1 billion has been spent using those cards. Visa has also developed a transaction settlement via USDC (the US dollar stablecoin) and partnered with Circle, the company behind USDC. Furthermore, Visa invested in the Series B round of Anchorage, a company building security infrastructure for digital currency.

While revenues derived from cryptocurrency and blockchain technology are obviously not a huge part of Visa’s overall revenue mix today, it is good to see that it isn't resting on its laurels as a current leader in global payments.

Visa is investing to make sure that it will still be a market leader in the future. It isn't satisfied to be the payments version of the horse and buggy company that gets disrupted when the automobile comes around.

Performance and Analyst Ratings

Shares of Visa are also down about 10% from their 52-week high, and offer a dividend, albeit a small one. Visa is rated a Strong Buy by analysts, with 19 out of 20 analysts covering the stock giving it a Buy rating over the past 3 months. The average Visa price target is $280.75, about 21% above today’s prices.

Core Business

Outside of crypto, Visa’s core business has also been registering plenty of wins over the past few months, whether it was beginning a new co-brand relationship with MercadoLibre (NASDAQ:MELI), Indian payments giant Paytm issuing a virtual Visa debit card, or Google Pay (NASDAQ:GOOGL) rolling out a virtual Visa card.

Visa will also benefit as lucrative cross-border payment volume continues to normalize, as global travel restrictions caused by COVID continue to ease. Visa reports that outbound travel in most parts of the world has returned to pre-COVID levels.

Takeaway

Overall, Visa is a sensible way to get some exposure to crypto and emerging blockchain technology, while investing in a blue chip company that is firing on all cylinders in its core business.

Disclosure: At the time of publication, Michael Byrne did not have a position in any of the securities mentioned in this article.

​Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of Tipranks or its affiliates, and should be considered for informational purposes only. Tipranks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. Tipranks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by Tipranks or its affiliates. Past performance is not indicative of future results, prices or performance.

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19-03-2024 09:34:17 (UTC+7)

EUR/USD

1.0875

+0.0004 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (8)

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Indicators:

Buy (6)

Sell (0)

EUR/USD

1.0875

+0.0004 (+0.04%)

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↑ Buy

Moving Avg:

Buy (8)

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GBP/USD

1.2726

-0.0001 (-0.01%)

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USD/JPY

149.26

+0.12 (+0.08%)

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Buy

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Buy (7)

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AUD/USD

0.6560

0.0001 (0.00%)

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USD/CAD

1.3538

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EUR/JPY

162.32

+0.14 (+0.09%)

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EUR/CHF

0.9658

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Gold Futures

2,165.25

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Silver Futures

25.340

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Copper Futures

4.1318

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Crude Oil WTI Futures

82.14

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Brent Oil Futures

86.87

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Natural Gas Futures

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US Coffee C Futures

181.45

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Euro Stoxx 50

4,984.25

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S&P 500

5,149.42

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DAX

17,939.21

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FTSE 100

7,722.55

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16,630.00

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US Small Cap 2000

2,024.74

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IBEX 35

10,596.70

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BASF SE NA O.N.

49.005

-0.305 (-0.62%)

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Bayer AG NA

26.22

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Allianz SE VNA O.N.

266.20

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Adidas AG

200.10

-4.90 (-2.39%)

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↑ Buy

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Deutsche Lufthansa AG

6.829

+0.005 (+0.07%)

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Neutral

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Siemens AG Class N

183.62

-1.34 (-0.72%)

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Deutsche Bank AG

13.506

-0.122 (-0.90%)

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Sell (8)

 EUR/USD1.0875↑ Buy
 GBP/USD1.2726↑ Buy
 USD/JPY149.26Buy
 AUD/USD0.6560↑ Buy
 USD/CAD1.3538↑ Sell
 EUR/JPY162.32↑ Buy
 EUR/CHF0.9658Sell
 Gold2,165.25↑ Buy
 Silver25.340↑ Buy
 Copper4.1318↑ Buy
 Crude Oil WTI82.14Neutral
 Brent Oil86.87↑ Buy
 Natural Gas1.719↑ Buy
 US Coffee C181.45↑ Sell
 Euro Stoxx 504,984.25Sell
 S&P 5005,149.42↑ Sell
 DAX17,939.21Buy
 FTSE 1007,722.55↑ Sell
 Hang Seng16,630.00↑ Sell
 Small Cap 20002,024.74↑ Sell
 IBEX 3510,596.70↑ Buy
 BASF49.005↑ Buy
 Bayer26.22↑ Buy
 Allianz266.20↑ Sell
 Adidas200.10↑ Buy
 Lufthansa6.829Neutral
 Siemens AG183.62Neutral
 Deutsche Bank AG13.506↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,000/ 8,170
(30/ 30) # 1,688
SJC HCM7,990/ 8,190
(50/ 50) # 1,708
SJC Hanoi7,990/ 8,192
(50/ 50) # 1,710
SJC Danang7,990/ 8,192
(50/ 50) # 1,710
SJC Nhatrang7,990/ 8,192
(50/ 50) # 1,710
SJC Cantho7,990/ 8,192
(50/ 50) # 1,710
Cập nhật 19-03-2024 09:34:19
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ↀ Giá vàng thế giới
$2,162.05+5.450.25%
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Sản phẩmVùng 1Vùng 2
RON 95-V23.95024.420
RON 95-III23.54024.010
E5 RON 92-II22.49022.930
DO 0.05S20.54020.950
DO 0,001S-V21.17021.590
Dầu hỏa 2-K20.70021.110
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.540,0024.890,00
EUR26.186,5227.623,56
GBP30.644,8831.948,85
JPY160,75170,14
KRW15,9819,37
Cập nhật lúc 09:29:15 19/03/2024
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