TLDR
- Visa and Mastercard have expressed skepticism about stablecoins being used for everyday consumer payments.
- Visa’s CEO, Ryan McInerny, stated that there are already ample digital payment methods available to U.S. consumers.
- Both companies emphasized that stablecoins have not yet proven to be a viable alternative to traditional payment systems.
- Mastercard views stablecoins as a niche currency for settlement, not a major disruptor in consumer payments.
- Despite these views, blockchain and stablecoin transactions continue to grow, with Bitcoin surpassing Visa and Mastercard in transaction volume.
Visa and Mastercard, two of the largest payments companies in the world, are showing skepticism about the future of stablecoins in everyday transactions. Despite recent blockchain advancements, both firms express that consumer demand for stablecoin payments has not materialized as expected. Their comments came during earnings calls this week, where they emphasized that stablecoins have not yet proven to be a viable alternative for traditional payment systems.
Visa’s Reluctance Toward Stablecoins in Consumer Payments
Visa CEO Ryan McInerny has been clear in his assessment of stablecoins, pointing out that in the U.S., consumers already have convenient methods for making digital payments. “If a consumer wants to pay for something using a digital dollar, they have ample ways to do that today,” McInerny said. He further explained that traditional methods like checking accounts and savings accounts already provide easy access to digital payments, making stablecoins unnecessary for everyday transactions.
In his view, the demand for stablecoin payments in digitally developed markets is limited. “We don’t see a lot of product market fit for stablecoin payments and consumer payments,” McInerny added. His comments underline Visa’s cautious stance towards blockchain-based payments in developed regions, where traditional systems dominate.
Mastercard’s approach to stablecoins differs slightly from Visa’s. CEO Michael Miebach acknowledged the potential of stablecoins but framed them as a niche currency within Mastercard’s broader network. “For us, stablecoins are another currency we can support within our network,” he said. However, he emphasized that the current use case for stablecoins remains largely focused on trading rather than consumer payments.
Miebach also pointed to Mastercard’s collaboration with companies like MetaMask, Ripple, and Gemini. These partnerships are aimed at facilitating stablecoin transactions within their network. While Mastercard has taken steps to integrate blockchain into its infrastructure, it still sees stablecoins as a limited tool for settlement rather than a major disruptor in consumer payments.
Blockchain Activity Soars Despite Payment Giants’ Caution
Despite Visa and Mastercard’s reservations, the blockchain ecosystem continues to grow. Bitcoin, for instance, processed over $25 trillion in transactions in 2025, surpassing both Visa and Mastercard in transaction volume. This figure highlights the increasing demand for blockchain-based financial solutions, even if major payment companies remain hesitant to embrace the technology fully.
The volume of transactions processed on blockchain networks shows that crypto and stablecoins are being used more frequently for various financial applications. However, the payments giants remain focused on traditional methods, which they argue are more stable and familiar to consumers.
While Visa and Mastercard have been conservative in their approach, other financial firms are moving forward with blockchain and crypto innovations. SoFi, a digital bank, is expanding its offerings in the crypto space. The company recently reported a rise in accounts actively buying and selling digital assets, with CEO Anthony Noto highlighting their strategy to lead in crypto and blockchain services.
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