Visa, Mastercard, Stripe Back New Stablecoin Platform
Summary
- Global payments companies including Visa, Mastercard and Stripe are moving to launch a new stablecoin platform, according to a report.
- Stripe acquired stablecoin infrastructure company Bridge for $1.1 billion in 2024.
- Mastercard announced an expansion of stablecoin-based payment capabilities after its acquisition of BVNK, while Visa expanded the number of blockchains supporting stablecoin payments to nine.
Forecast Trend Report by Period
Visa, Mastercard and Stripe are moving to launch a new stablecoin platform.
CoinDesk reported on June 3, citing multiple sources, that the three global payments companies will serve as key backers of the new platform. US cryptocurrency exchange Coinbase is also said to be considering participation.
Stablecoins are emerging as a key competitive arena for major payments companies. Stripe acquired stablecoin infrastructure company Bridge for $1.1 billion in 2024.
Mastercard has accelerated its expansion in the sector after acquiring stablecoin company BVNK earlier this year. The company also announced on June 3 that it would expand its stablecoin-based payment capabilities.
Visa in April expanded to nine the number of blockchains supporting stablecoin payments.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
