‘Find the Top Pick for Stablecoins’.. Spotlight on Distribution and Micro-Payments [CryptoBriefing]

[Financial News] With the passage of the US ‘Stablecoin Bill (GENIUS Act)’, the stablecoin ecosystem is expanding, and investors' interest in related beneficiary stocks is rapidly growing. Direct beneficiaries include Circle, which issues the largest US stablecoin USDC, and the virtual asset exchange Coinbase, as well as distribution companies that can significantly reduce payment costs and companies with high micro-payment frequencies, which are emerging as new investment themes.
According to NH Investment & Securities on the 29th, after the domestic and international stablecoin legislation, the top pick for stablecoins (most preferred stocks) is expected to be companies that can significantly reduce payment costs through stablecoins.
Hong Seong-wook, a researcher at NH Investment & Securities, predicted, “Companies where a significant portion of transactions between companies and consumers (B2C) are made with credit cards, companies with high micro-payment frequencies, and companies that are likely to have low margins due to industry characteristics are likely to benefit.”
The distribution industry is cited as a representative beneficiary. Previously, reports emerged that Walmart and Amazon were reviewing plans to issue their own stablecoins to reduce card payment fees, causing Visa and Mastercard stock prices to fluctuate. Researcher Hong analyzed, “In the case of Starbucks, they are trying to lower payment costs by encouraging consumers to use prepaid funds,” and “If stablecoins become active, it will be easier to apply prepaid payment strategies like Starbucks.”
Additionally, for companies with very low margins and a high proportion of credit card payments, it is analyzed that even reducing payment fees by just 1%p with the introduction of stablecoins can significantly improve earnings per share (EPS). According to NH Investment & Securities’ analysis of companies in the S&P 500 with a net profit margin of 4% or less, it was found that reducing payment costs (margins) by just 1%p with the introduction of stablecoins could lead to EPS growth rates of 26-88%. In particular, DoorDash and CVS Health are expected to see EPS growth effects of approximately 88% and 81%, respectively.
Furthermore, companies like Uber and Airbnb, which operate in various countries and have a high proportion of credit card and micro-payments, are also expected to be able to reduce payment costs with the introduction of stablecoins.
Researcher Hong pointed out, “For companies with a high burden of fees from existing payment systems due to frequent cross-border transactions, the introduction of stablecoins is expected to have a significant cost reduction effect.”
elikim@fnnews.com Kim Mi-hee Reporter