- Visa, Mastercard, Stripe and Coinbase are reportedly exploring a stablecoin platform for payments.
- Stablecoins are gaining traction as businesses seek faster and lower-cost cross-border transfers.
- Major payment and crypto firms are expanding stablecoin services as adoption accelerates globally.
Visa and Mastercard are reportedly preparing to enter the stablecoin space through a new platform that could also involve Stripe and Coinbase. While details remain limited, the initiative points to growing interest in using stablecoins for financial transactions, especially cross-border payments.
The reported collaboration brings together major players in both payments and crypto at a time when digital assets are gaining wider use in finance. Although the structure of the platform has not been disclosed, the move suggests that stablecoins are increasingly being viewed as practical payment tools rather than niche crypto products.
Stablecoins Gain Ground in Global Payments
It’s worth noting that stablecoins are digital cash tied to assets like the U.S. dollar, keeping their value more stable. They don’t see wild price swings like other cryptos. So, businesses are starting to use them for payments and money transfers, particularly cross-border stuff.
The stablecoin market is now worth about $325 billion. Tether’s USDT still dominates the space in terms of circulation. However, other stablecoins are slowly gaining ground as more companies and users adopt them. Analysts say payment firms are paying closer attention to stablecoins because they can help move money faster and settle transactions more efficiently.
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Major Firms Expand Stablecoin Operations
Visa and Mastercard have already been expanding their activity in stablecoins. Earlier this year, Mastercard acquired BVNK, a company that builds stablecoin infrastructure. The company also said at the time that it plans to grow its system for continuous stablecoin settlement.
Visa has taken a similar path. In April, it expanded a settlement pilot to nine blockchain networks. That update added Base, Polygon, Canton Network, Arc, and Tempo. It also continues to support earlier networks such as Ethereum, Solana, Avalanche, and Stellar.
Stripe also moved deeper into the sector through acquisitions. In late 2024, the company bought stablecoin infrastructure firm Bridge for $1.1 billion. This gave Stripe more access to the tools needed for blockchain-based payment systems.
Coinbase Strengthens Stablecoin Presence
Coinbase has also been expanding its stablecoin-related services. Late last year, the exchange rolled out a white-label stablecoin service for businesses. It also launched Coinbase Business, a product aimed at helping companies handle stablecoin payments.
The company continues to work closely with Circle Internet, which issues the USDC stablecoin. Since August 2023, both firms have operated under a revenue-sharing agreement. That deal is set to be reviewed for renewal in August this year.
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