The $325 billion stablecoin market gains a new platform backed by major payment firms and Coinbase, signaling broader adoption.
Payment networks Stripe, Visa, and Mastercard are set to launch a new stablecoin platform, with Coinbase exploring participation. The move underscores growing institutional interest in stablecoins, which now hold a $325 billion market cap dominated by Tether’s $115 billion USDT.
Stripe acquired stablecoin infrastructure firm Bridge for $1.1 billion in 2024, while Mastercard bought BVNK earlier this year. Coinbase previously introduced a white-label stablecoin service and a business payments solution, aligning with its push into digital asset settlement.
The platform aims to expand stablecoin utility in payments, with Mastercard already planning always-on settlement capabilities. The collaboration highlights traditional finance’s increasing integration with crypto assets.