Payment giants Stripe, Visa, and Mastercard are collaborating to launch a new stablecoin platform, CoinDesk reports. Insiders say that cryptocurrency exchange Binance is also studying the possibility of participating. Stripe re-entered the crypto payments space in 2023, supporting assets like USDC; Visa has long offered crypto-linked cards and partnered with numerous crypto firms; and Mastercard has indicated it will open its network for stablecoin settlement. As of publication, Coinbase, Stripe, and Visa declined to comment, while Mastercard did not respond to a request for comment.
Additionally, Coinbase has maintained a deep partnership with Circle since co-launching USDC in 2018. Their revenue-sharing agreement expires in August, and renewal negotiations are drawing attention. USDC, a compliant dollar-pegged stablecoin, currently boasts a market capitalization of $76 billion, ranking as the second-largest stablecoin after USDT, and is widely used in compliant payments and DeFi.