Payment giants Stripe, Visa, and Mastercard are teaming up to build a new stablecoin platform, and Coinbase may also join.

According to reports from foreign media CoinDesk, three informed sources revealed that the global payment giants Stripe, Visa, and Mastercard are planning to jointly launch a brand new stablecoin platform. The top U.S. cryptocurrency exchange Coinbase is also considering participating. If this powerful collaboration materializes, it will mark a milestone in the integration of traditional financial (TradFi) payment networks with the crypto ecosystem, potentially greatly accelerating the adoption of stablecoins in mainstream cross-border settlements and transfers.
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According to an exclusive report released today by leading cryptocurrency media CoinDesk, three insiders familiar with the plan disclosed that the three major global payment and card network giants — Stripe, Visa, and Mastercard — are the behind-the-scenes supporters of a soon-to-be-launched new stablecoin platform. Additionally, the U.S.-listed cryptocurrency exchange Coinbase (COIN) is also currently considering participating in the platform’s development.

In response to this market-shaking rumor, Coinbase, Stripe, and Visa have all declined to comment, while Mastercard had not responded before press time. Currently, the official details regarding the platform’s specific name, supported blockchain networks, and official launch date remain undisclosed.

The three giants’ stablecoin strategy has already been set in motion

The preparation for this new platform is not without clues. In fact, these three traditional payment giants have been steadily expanding their presence in the stablecoin field in recent years. Stripe invested a hefty $1.1 billion in 2024 to acquire stablecoin infrastructure company Bridge; Mastercard earlier this year acquired stablecoin firm BVNK and recently announced expanding its “always-on” stablecoin settlement services.

Visa is also actively deploying in blockchain, having announced in April that it would expand its stablecoin settlement pilot to nine blockchain networks. In addition to Ethereum, Solana, Avalanche, and Stellar, new networks such as Base, Polygon, Canton Network, Arc, and Tempo have been added. The current transaction volume run rate has reached $7 billion.

Coinbase’s involvement will deepen the connection between TradFi and the crypto ecosystem

Beyond the three card and payment networks, Coinbase, which is considering joining the platform, also holds a significant position in the stablecoin ecosystem. Coinbase previously announced the launch of white-label stablecoin services and Coinbase Business stablecoin payment services. Notably, Coinbase has a revenue-sharing agreement with Circle, the issuer of the second-largest stablecoin USDC (which will expire this August), enjoying exclusive USDC interest income within the exchange, while outside the platform and in the DeFi ecosystem, a 50/50 revenue split is implemented.

Currently, the total global stablecoin market cap has reached approximately $325 billion, with Tether (USDT) dominating at $115 billion, and USDC’s market cap around $76 billion. Wall Street analysts point out that if Stripe, Visa, and Mastercard succeed in building this new platform, it reflects that traditional finance is actively integrating stablecoins into mainstream payment systems to enable faster, cheaper cross-border transfers. Coinbase’s participation will further bridge the gap between traditional financial channels and the decentralized world.