Visa and Mastercard are spearheading a major stablecoin initiative with partners including Stripe, launching a new digital currency to compete with established players like Tether and Circle. Simultaneously, the payment giants are navigating a $38 billion settlement with implications for merchants and consumers across their networks.
·Visa, Mastercard, Stripe and 140+ businesses jointly launching Open USD stablecoin
·$38 billion settlement between Visa, Mastercard and partners carries significant consequences for merchants and consumers
·Card networks partnering with banks and fintechs on low-cost stablecoin infrastructure
·Data center capacity becoming critical operational challenge for payment processors
drawn from Reuters, SILive.com, AL.com, Banking Dive · updated 20h ago