All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Visa and Mastercard say stablecoins remain too small to challenge their global payment dominance.
- Both companies see stablecoins as useful mainly in countries with unstable local currencies.
Visa and Mastercard don’t yet consider stablecoins a cause for concern. According to Reuters, in their latest financial reports, the two payment giants stated that current stablecoin usage is still very small—far below the scale of transactions they handle annually.
Visa alone records an annual volume of around $15 trillion. So, in the context of the global market, stablecoins are still like ants in a football field.
Furthermore, they stated that stablecoins are likely to only be useful in countries with unstable local currencies. According to Visa, payment systems in countries like the United States are already so seamless, so stablecoins don’t yet have a strong case for replacing existing credit or debit cards. Mastercard shares a similar view, stating that regulations in the US are beginning to take shape, but adoption is still slow.
Visa and Mastercard Quietly Prepare for a Stablecoin Future
However, while their comments may sound relaxed, actions on the ground point in the opposite direction. Visa, for example, has added support for various stablecoins, including USDC, PYUSD, USDG, and EURC. All of these can be used on major blockchains like Ethereum, Solana, and Avalanche. This means that, despite not feeling threatened, Visa is still opening the way for stablecoins to enter its system.
It doesn’t stop there. At the end of June, the CNF reported that Visa is also partnering with Crossmint to enable more secure on-chain transactions for AI agents. This project runs through Visa’s Intelligent Commerce platform, which is said to provide spending limits and fraud protection. If we think about it, isn’t this setting the stage for stablecoins to appear more presentable?
Meanwhile, Mastercard’s expansion seems more direct. In early July, they partnered with Bitget to launch a fee-free crypto debit card. This card can be used at over 150 million merchants in the UK and the EU. Users can pay directly with crypto through an on-chain swap mechanism, with no annual fees or top-up fees. If this isn’t a sign of readiness, what is?
Stablecoins May Be Small, But the Stakes Are Growing
To summarize, Visa and Mastercard’s current position is like that of older adults saying, “These young people can’t beat us yet,” while quietly preparing the stage for their concert. On the one hand, they acknowledge the potential of stablecoins in developing countries, especially for cross-border transactions. On the other hand, they continue to open the floodgates for collaboration that will make stablecoin integration smoother.
Surprisingly, even though stablecoins aren’t considered disruptive yet, several companies in this sector already have jaw-dropping valuations. For example, Circle—the company behind USDC—is now valued at over $40 billion. So, while they’re still small players, investor expectations are clearly high. Visa and Mastercard don’t seem to want to miss the train.
