Reports claim that a new stablecoin developed by Visa, Mastercard and Stripe (a finance company) will soon be available on the cryptocurrency market. Sources familiar with the partnership say that the global payment platforms will be creating a joint stablecoin likely tied to the US Dollar.
Coinbase (COIN), according to the same sources, is also looking at the possibility of joining the stablecoin platform. Stablecoins are a growing market, and have been for the last couple of years. This is due to digital assets becoming more common. CoinGecko’s data shows that the market capitalization of stablecoins is approximately $325 billion at this time. Tether’s USDT is the dominant stablecoin, with a market cap of $115 Billion. The three entities could create, with Coinbase’s help, a coin to compete with USDT.
Gen Z is now joining the cryptocurrency race in order to boost the domain’s popularity. Gen Z users have emerged in the last few months as those who are most likely to use cryptocurrency. They use stablecoins, especially to perform daily tasks and conduct transactions. Several traditional banks and investment firms are also now on board. This year. Western Union The following are some examples of how to get started: SoFi Technologies Their own projects. JPMorgan Bank of America UBS and other large firms are all working on stablecoins. Visa, Mastercard Stripe and other companies are now looking at creating their own stablecoin.
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Stripe will acquire Bridge Stablecoin Infrastructure in 2024, for $1.1 Billion. Mastercard announced this week that it will expand the always-on settlement of stablecoins. The company acquired BVNK in early this year. Visa announced in April that it would expand its settlement pilot program to include nine blockchains. This included Base, Polygon and Canton Network as well as Arc and Tempo.
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Source: watcher.guru
