Visa and Mastercard aren’t buying the stablecoin hype for everyday payments

Executives from Visa and Mastercard indicated in recent earnings calls that they do not see significant product-market fit for stablecoin payments in digitally developed markets, despite the technology's potential for faster settlement. Visa CEO Ryan McInerny noted that consumers already have easy ways to pay using digital dollars from bank accounts. Mastercard CEO Michael Miebach adopted a more open stance, framing stablecoins as another currency their network can support, emphasizing their current role in asset trading rather than everyday payments. Both companies are experimenting with blockchain infrastructure, such as stablecoin settlement using USDC, but they do not view crypto as a near-term threat or major opportunity for their core businesses. This cautious approach contrasts with the massive transaction volumes seen on blockchains like Bitcoin, and contrasts with fintech firms like SoFi, which is aggressively integrating crypto into its banking strategy.

(Source：CoinDesk)