Coinbase said to be looking into participating new stablecoin platform backed by Stripe, Visa, Mastercard
Stripe, Visa, and Mastercard are reportedly close to launching a new stablecoin platform, with Coinbase also exploring participation. The move reflects growing interest from major payments companies in stablecoins, whose total market cap is about $325 billion, led by Tether’s USDT at $115 billion. Stripe bought stablecoin infrastructure firm Bridge in late 2024, and Mastercard recently acquired BVNK and plans to expand always-on stablecoin settlement. Visa has expanded its stablecoin settlement pilot to nine blockchains, including Base, Polygon, Canton Network, Arc, and Tempo. Coinbase has already launched white-label stablecoin services and Coinbase Business for stablecoin payments. Coinbase also has a revenue-sharing deal with Circle on USDC, the second-largest stablecoin, with the agreement due for renewal in August.
