Visa and Mastercard Do Not See Stablecoins for Daily Payments

Attention-Grabbing Attitude Towards Stablecoins

Visa and Mastercard executives stated that stablecoins currently do not attract much interest from investors for everyday consumer payments. It was particularly noted that the product-market fit for such cryptocurrencies is limited in digitally advanced markets.

Experiences with Blockchain and Stablecoins

Both card networks continue to experiment with blockchain and stablecoin transactions. However, they emphasize that most current crypto activities are evaluated in commerce and speculation terms. This situation is not seen as a threat or opportunity for the core business areas of Visa and Mastercard.

Increasing Onchain Activity

Despite their cautious stance, there is a rapid increase in onchain activities. Notably, Bitcoin currently holds more value than the total of both Visa and Mastercard. This situation highlights the growth potential of cryptocurrencies. Additionally, SoFi continues to adopt a more comprehensive strategy that combines blockchain innovation with banking quality stability.