Big banks are no longer just watching crypto from the sidelines. A group of heavyweights is putting about US$270m behind a new U.S. dollar stablecoin, turning on-chain payments from experiment to serious infrastructure project. That move could reshape how money moves across borders, who earns the fees, and which stocks benefit. This article walks through 3 global banking stocks closely tied to that story.
The stocks covered next are just a starter pack, because the full screen surfaced 11 more large global banks with digital payment and stablecoin narratives that are not included in this article. To go straight to the broader opportunity set, use the Large Global Banks with Digital Payments and Stablecoin Initiatives screener to identify, filter, and analyze the ideas that fit your highest conviction.
Banco Bilbao Vizcaya Argentaria (BME:BBVA)
Overview: Banco Bilbao Vizcaya Argentaria is a global universal bank offering retail, wholesale, investment, transaction and digital banking services across Europe, the Americas and Asia.
Operations: BBVA generates most revenue in Mexico at €12.98b, followed by Spain at €9.18b, South America at €5.96b and Turkey at €5.41b.
Market Cap: €128.80b
BBVA appears in this stablecoin and on-chain payments screen because its global reach and tech-heavy model give it exposure to new payment rails. This is the focus of the analyst consensus Narrative on Simply Wall St in its updated view.
"Ongoing investment and leadership in digital transformation is now reinforced by concrete AI programs that already support contact centers, risk processes and software development. Taken together, these initiatives are expected to improve productivity, reduce unit costs and support net margins as more of the bank’s activity shifts to these tools."
What ultimately happens to returns will depend on how a relatively quiet shift in BBVA’s digital economics influences pricing power and fee growth.
If that shift in BBVA’s digital economics is what matters most to you, read the full narrative for Banco Bilbao Vizcaya Argentaria to see where on chain payments could accelerate or stall progress.
Circle Internet Group (CRCL)
Overview: Circle Internet Group runs a stablecoin and blockchain infrastructure platform that powers regulated digital dollars for payments, treasury and on-chain financial applications.
Operations: Circle generates about US$3.03b in data processing revenue, essentially all from activity in the United States.
Market Cap: US$17.33b
Circle Internet Group matters for this screener because it provides the stablecoin plumbing that large banks increasingly plug into. Felix11, a Simply Wall St Community investor who wrote a detailed view on the business, argues that its role inside payment systems is what really defines its long term opportunity.
"Once a settlement asset becomes embedded into payment infrastructure, demand tends to become structurally sticky. Institutions rarely switch core settlement rails frequently, and this introduces network effects similar to early payment processors."
What happens if one quiet shift in how banks and corporates hold digital dollars changes both Circle’s pricing power and its cost base?
If that shift really takes hold, read the full narrative for Circle Internet Group to see how Circle Internet Group could scale, where risks cluster, and what might accelerate adoption.
CaixaBank (BME:CABK)
Overview: CaixaBank is a major Iberian universal bank that blends everyday retail banking with digital payments, tokenization projects and corporate finance.
Operations: CaixaBank generates €12.33b from banking, €2.03b from insurance, €1.17b from Portuguese Investment Bank BPI and €136m from the corporate center.
Market Cap: €86.92b
CaixaBank matters for this stablecoin and tokenized payments screen because its Iberian reach, payments franchise and on-chain pilots align closely with the trend that the bearish analyst Narrative on Simply Wall St is stress testing.
"Although CaixaBank is scaling digital channels and AI tools that automate a large share of product inquiries, rising staff pushback against sales pressure and workload, including general strikes and mass walkouts, could force a reset of commercial intensity that limits revenue growth from higher digital engagement and weighs on fee income."
What happens to CaixaBank’s earnings profile if that unseen pressure on how hard frontline teams can sell digital services really bites?
If that pressure really is the pivot, read the full narrative for CaixaBank to see how CaixaBank’s digital push, payout potential and risk profile could be decoupling.
Seeking Fresh Alternatives Before Others
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Sasha Jovanovic
Sasha is an Equity Analyst at Simply Wall St with 15 years financial markets experience. He is a CFA Charterholder and holds Bachelor degrees in Mathematics and International Studies from the University of Technology, Sydney, Australia. He worked at CommSec Investment Management as an Investment Analyst from 2014 and later at Sequoia Financial Group as a Portfolio Analyst from 2018.
