Visa Inc. and the Future of B2B Payments: A Blockchain-Based Strategy Within the EU MiCA Compliance
摘要
This chapter constructs an analysis on the strategic and financial viability of an investment by Visa Inc. in a permissioned blockchain-based B2B payment system under the scope of the Markets in Crypto Assets (MiCA) regulatory framework within the European Union (EU). It positions at the intersection of corporate finance, regulatory frameworks, and strategic innovation to evaluate a potential response to the rapid evolution of financial technology (FinTech) and increasing competition from FinTech companies. A comprehensive methodology that combines PESTLE, SWOT, and Porter’s Five Forces with a Discounted Cash Flow based valuation technique assesses both external threats and internal capabilities. The findings suggest that the blockchain-based solution not only enhances Visa’s technological competitiveness in the B2B market in the EU but also provides a structural infrastructure for future integration of stable coins and decentralized finance applications. Financial projections under various scenarios show robust value creation with Net Present Values (NPV) ranging from $81.5 million to $847.6 million and IRRs exceeding the cost of capital throughout all scenarios ranging between 10.80% and 24.92%. Governance recommendations highlight the use of Proof-of-Authority (PoA) consensus and sidechain supported digital identity management for the assurance of compliance and automated supervision.