Payment giants Stripe, Visa, and Mastercard are close to launching a new stablecoin platform, according to sources. Coinbase is also considering participation. Stablecoins, with a total market cap of ~$325B, are a focus for card networks and payment players. Tether's USDT dominates at $115B. Stripe acquired Bridge in 2024 for $1.1B. Mastercard acquired BVNK earlier this year and plans to expand stablecoin settlement. Visa expanded its stablecoin pilot to nine blockchains. Coinbase, which has a revenue-sharing deal with Circle for USDC (market cap $76B), keeps all interest from on-exchange USDC and splits off-platform revenue 50/50. The deal renews in August 2026. The new platform could reshape stablecoin dynamics.

Key facts

• Stripe, Visa, Mastercard close to launching new stablecoin platform.
• Coinbase potentially joining the stablecoin initiative.
• Total stablecoin market cap ~$325B; USDT dominates at $115B.
• Stripe acquired Bridge ($1.1B); Mastercard bought BVNK.
• Coinbase-Circle USDC revenue deal renews August 2026.

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