Payment giants Stripe, Visa, Mastercard said to be among backers of soon-to-debut stablecoin platform
U.S. crypto exchange Coinbase is also said to be looking into the possibility of participating in the new stablecoin platform....
Key takeaways
- 1Stripe, Visa, Mastercard backing new stablecoin platform with Coinbase exploring participation.
- 2Global stablecoin market cap reached $325 billion, dominated by Tether's USDT at $115 billion.
- 3Stripe acquired Bridge for $1.1 billion in 2024; Mastercard bought BVNK to expand settlement services.
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Why it matters
Major payment networks entering stablecoin space signals institutional adoption acceleration in India's growing crypto market. This institutional backing could legitimize stablecoins for retail investors and increase mainstream payment adoption in India.
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