Payment giants Stripe, Visa, Mastercard said to be among backers of soon-to-debut stablecoin platform
Stripe, Visa and Mastercard are reportedly close to backing a new stablecoin platform, with Coinbase also exploring participation.
Intelligence analysis by GPT-5.4 Mini
A report says major payments networks Stripe, Visa and Mastercard are near launch on a new stablecoin platform. Coinbase is also said to be considering joining, underscoring how mainstream payments firms are moving deeper into crypto settlement.
Big payment companies are trying to build a new way to move digital dollars faster, like adding a new highway for money. Coinbase may join too, because many companies think these digital coins could become a normal way to pay.
Analysis
What the report says
According to three people familiar with the plans, Stripe, Visa and Mastercard are close to introducing a new stablecoin platform. One of those people said Coinbase is also looking into whether it could take part. The companies named in the report did not provide a substantive comment, and Mastercard had not responded by publication time.
Why this is notable
Stablecoins are one of the busiest parts of crypto, and the article frames them as a growing focus for large payment networks. The reporting points to a wider industry shift: these firms are no longer treating stablecoins as a fringe crypto product, but as infrastructure for payments and settlement.
The piece also cites several concrete moves that show the direction of travel. Stripe bought Bridge in late 2024 for $1.1 billion. Mastercard acquired BVNK earlier this year and said this week it plans to expand always-on stablecoin settlement. Visa, meanwhile, expanded a stablecoin settlement pilot in April to nine blockchains, adding Base, Polygon, Canton Network, Arc and Tempo alongside Ethereum, Solana, Avalanche and Stellar.
Coinbase is already active in this area. Late last year it announced a white-label stablecoin service and Coinbase Business for stablecoin payments. The article also notes that Coinbase and Circle have had a revenue-sharing deal since August 2023 tied to USDC, the second-largest stablecoin, and that agreement is due for renewal in August this year.
The market backdrop is large: CoinGecko data in the article puts the total stablecoin market cap at about $325 billion, with Tether's USDT at $115 billion and USDC at $76 billion. That scale helps explain why payments companies are moving in.
Bottom line
The report suggests a growing convergence between traditional card networks, major fintechs and crypto infrastructure around stablecoin payments and settlement. The main question now is whether these plans become a live platform or remain another sign of where the industry wants to go.
Key points
- Stripe, Visa and Mastercard are reportedly close to launching a new stablecoin platform.
- Coinbase is also said to be considering participation in the platform.
- The article frames stablecoins as a major focus for payments and card networks.
- Stripe bought Bridge in 2024, Mastercard bought BVNK earlier this year, and Visa expanded its settlement pilot in April.
- Coinbase's USDC revenue-sharing agreement with Circle is due for renewal in August.
If the platform launches, it could give stablecoins more everyday use in payments and settlement. The involvement of Stripe, Visa and Mastercard would also signal that large mainstream networks are willing to build around crypto infrastructure.
The plans are still reported as close to launch rather than finished, so the platform could change or stall. Coinbase, Stripe and Visa declined to comment, which leaves the level of commitment unclear, and Coinbase also faces renewal uncertainty on its USDC revenue-sharing deal in August.
