Visa and Mastercard aren’t buying the stablecoin hype for everyday payments

Despite crypto’s promise of faster, cheaper transactions, the payments giants aren’t buying the stablecoin pitch, at least not in developed markets. What to know : Visa and Mastercard executives told investors they see little current product-market fit for stablecoins in everyday consumer payments, especially in digitally developed markets. Both card networks are experimenting with blockchain and stablecoin settlement but view most crypto activity today as trading and speculation rather than a near-term threat or opportunity to their core businesses. Despite their caution, onchain activity is growing rapidly, with bitcoin settling more value than Visa and Mastercard combined, while SoFi is pushing ahead on crypto as part of a broader strategy to pair blockchain innovation with bank-grade stability.