According to CryptoProwl, on June 3, payment card giant Visa and Mastercard are set to jointly launch a new stablecoin platform. Global payments network Stripe and U.S. crypto exchange Coinbase Global are also reported to be planning to participate; the platform’s specific operating model and the roles of each party have not been publicly disclosed at this time.
Current stablecoin setups of each party
Both companies’ confirmed moves in the stablecoin space:
Mastercard: Earlier this year, it acquired stablecoin company BVNK; BVNK announced plans to expand its stablecoin settlement network
Visa: Its stablecoin settlement network has been expanded to 9 blockchains, including Ethereum (ETH) and Solana (SOL)
Visa stock price: Down 8% year-to-date; currently trading at $317.32 per share
Mastercard stock price: Down 15% year-to-date; currently trading at $477.68 per share
Platform details not yet disclosed
Citing analysts, the report says the cooperation between Visa and Mastercard, two competing rivals, indicates that the stablecoin market is maturing and expanding. However, the specific operating model of the new stablecoin platform, as well as the roles that Visa, Mastercard, Stripe, and Coinbase will play on the platform, have not been publicly disclosed yet.
Common questions
What details about the stablecoin platform of Visa and Mastercard have been disclosed so far?
Based on current reporting, the platform has not publicly disclosed its specific operating model or the roles of participating parties. Confirmed background information includes: Mastercard acquired BVNK, and Visa has expanded its stablecoin settlement network to 9 blockchains. Stripe and Coinbase are also reported to plan to participate, but the precise cooperation details have not been made public.
What company is BVNK, which Mastercard acquired?
BVNK is a stablecoin company, which Mastercard completed its acquisition of in early 2026. After the acquisition, BVNK announced plans to expand its stablecoin settlement network, but the exact expansion scope and timeline have not been published.
How large is the global stablecoin market currently?
According to data in the report, the total market capitalization of the global stablecoin market currently stands at $325 billion, with Tether’s USDT taking a leading position.
