BlockBeats news, on June 3, sources close to the matter revealed that global payment networks Stripe, Visa, and Mastercard are nearing a joint launch of a new stablecoin platform, with Coinbase also considering participation. Currently, Stripe and Visa have declined to comment, and Mastercard has not responded. If true, this would mark the first large-scale collaborative effort between traditional payment giants and cryptocurrency platforms around stablecoin infrastructure, shifting the stablecoin landscape from competition among individual company products to industry-wide infrastructure cooperation.
Stripe previously acquired stablecoin infrastructure company Bridge for $1.1 billion at the end of 2024. Mastercard acquired BVNK earlier this year and announced this week an expansion of 24/7 stablecoin settlement. Visa expanded its stablecoin settlement pilot to nine blockchains in April. Meanwhile, Coinbase launched a white-label stablecoin service and enterprise-focused stablecoin payment products at the end of last year. Its revenue-sharing agreement with Circle for USDC is set to be renewed this August—currently, USDC has a market capitalization of approximately $76 billion; under the agreement, Coinbase retains 100% of the interest income generated from USDC on its platform, while earnings from on-chain and DeFi circulation are split 50/50.