Visa, MasterCard slide after WSJ says merchants exploring stablecoins

Visa (V) fell 4%, MasterCard (MA) fell 2%, and American Express (AXP) declined 2% in premarket trading after The Wall Street Journal’s Gina Heeb, AnnaMaria Andriotis, and Josh Dawsey reported that Walmart (WMT), Amazon (AMZN), and other multinational companies as well as Expedia Group (EXPE) and airline companies have explored whether to issue their own stablecoins in the U.S. Stablecoins could allow merchants to get around traditional payment restrictions and offer the possibility for a quicker process, according to the report.