Payment Giants Close In On Unified Stablecoin Platform Global payment networks @Stripe, @Visa, and @Mastercard are close to introducing a new stablecoin platform, according to three people fa
Global payment networks @Stripe, @Visa, and @Mastercard are close to introducing a new stablecoin platform, according to three people familiar with the plans.@Coinbase is also looking into the possibility of participating in the stablecoin platform, one of the people said. The initiative is understood to be aimed at creating a standardized liquidity layer for digital asset settlement across global commerce.
@Coinbase, @Stripe, and @Visa declined to comment, while @Mastercard had not responded to requests for comment by publication time.
The platform would represent the convergence of several years of independent moves by each company into stablecoin infrastructure. @Stripe acquired stablecoin infrastructure firm Bridge in late 2024 for $1.1 billion.@Mastercard, which acquired stablecoin firm BVNK earlier this year, said this week it plans to expand always-on stablecoin settlement.In April, @Visa announced it was expanding a stablecoin settlement pilot to nine blockchains, adding Base, Polygon, Canton Network, Arc, and Tempo to existing support for Ethereum, Solana, Avalanche, and Stellar.
Late last year, @Coinbase announced a white-label stablecoin service, as well as the Coinbase Business service for stablecoin payments. A potential complication for Coinbase's participation is its existing relationship with Circle, the issuer of USDC. A key consideration for @Coinbase is its partnership with Circle, the issuer of USDC, with the two companies sharing revenue generated by the stablecoin since 2023.
Stablecoins are attracting growing attention from card networks as they offer a fast and secure means of settling international transactions. The total stablecoin market is currently valued at $325 billion. If the platform launches as reported, it would mark one of the most significant convergences of traditional payments infrastructure and crypto-native settlement to date.
Sources:CoinDesk: Payment Giants Stripe, Visa, Mastercard Said to Be Among Backers of Soon-to-Debut Stablecoin PlatformCrypto Briefing: Stripe, Visa and Mastercard Are Close to Launching a Joint Stablecoin Platform
