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Source: Insider Insiders: Visa, Mastercard in Talks with Stripe, Coinbase on Stablecoin Platform Partnership

2 hours ago

NEW YORK, June 8 (Fortune) — Visa and Mastercard are in active talks with companies including Stripe, Coinbase, and potential additional players to form a stablecoin alliance and launch a dedicated new stablecoin platform, per sources familiar with the matter cited by Fortune. If the partnership is finalized, it would deliver a major shakeup to the $300 billion-plus global stablecoin market. Leveraging Visa, Mastercard, and Stripe’s massive reach in worldwide retail payments, the new platform aims to drive wider adoption of stablecoins for everyday transactions. Industry observers are closely tracking how the plan will impact Circle. Right now, Circle’s USDC dominates the regulated stablecoin market in North America and Europe. Insiders note that Visa, Mastercard, Coinbase, or all three could use the alliance to push merchants to adopt their own stablecoins, unlocking new revenue streams like reserve interest earnings. For Coinbase, it’s continuing to reap benefits from its 2023 deal with Circle, which grants it the majority of USDC’s reserve interest, while Circle handles core operational and regulatory tasks. But since the two sides may renegotiate their partnership terms down the line, Coinbase is eyeing new opportunities via fresh stablecoin collaborations. As of now, no formal agreement has been reached among the involved companies—some haven’t even signed a Memorandum of Understanding (MOU), sources add. Talks remain in the very early stages, and analysts point to steep hurdles for this cross-industry alliance: complex coordination between players, existing competitive tensions, and potential antitrust scrutiny. That means any launch timeline is likely months away, and there’s no guarantee the project will actually move forward as planned.
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