Visa and Mastercard, the world’s payment leaders, aren’t seeing stablecoins as a threat. Instead, their executives are embracing this new technology.
Visa’s Positive Outlook on Stablecoins
Visa CEO Ryan McInerney sees stablecoins as a way to speed up international transactions for both businesses and consumers. Visa has been testing stablecoin systems and is seeing promising results. McInerney believes stablecoins are particularly well-suited for money transfers across borders and, as the largest payment network, Visa plans to be a leader in adopting this technology for its clients.
Mastercard Sees Stablecoins as an Enhancement
Mastercard CEO Michael Miebach views stablecoins as simply another form of currency, one that can complement their existing services. He sees opportunities to help users convert between traditional money and stablecoins, and to offer related services, leveraging Mastercard’s global reach and reputation. Mastercard’s approach is to embrace innovation in the payments space.
A Collaborative Future?
Both companies seem to be viewing stablecoins not as competitors, but as tools to improve and expand their services, suggesting a future where traditional payment networks and digital currencies coexist.