Global payment giants Stripe, Visa, and Mastercard are reportedly nearing the launch of a new stablecoin platform. According to people familiar with the matter, the platform aims to provide stablecoin payment and settlement services for businesses and consumers. Meanwhile, Binance, the world's largest crypto exchange, is also exploring the possibility of joining the platform.
Traditional payment companies have been building stablecoin capabilities for some time. Visa has already enabled USDC settlement in parts of its network, and Stripe recently reopened crypto payment support. The collaboration of these major players marks a further step into the stablecoin ecosystem.
As of press time, Coinbase, Stripe, and Visa all declined to comment on the matter, while Mastercard had not yet responded. The news was first reported by CoinDesk.
USDC, issued by the Centre Consortium co-founded by Coinbase and Circle, currently has a market cap of approximately $76 billion, making it the second-largest stablecoin after USDT. It is widely used in payments and DeFi applications. The revenue-sharing agreement between Coinbase and Circle Internet is set to expire in August this year.