Mastercard, Visa make deals to jolt stablecoins

Core Insights - Visa and Mastercard are increasing their investments in the stablecoin market due to growing demand for digital assets [1][10] Group 1: Visa's Initiatives - Visa will expand its collaboration with Bridge to issue stablecoin-linked cards in over 100 countries [2] - Visa is testing a stablecoin settlement system to improve transaction processes and simplify blockchain usage for payments [5] - Visa has opened its cross-border real-time payments network, Visa Direct, for stablecoin transactions, and launched a stablecoin advisory service [7] Group 2: Mastercard's Collaborations - Mastercard has partnered with SoFi Technologies to enable SoFIUSD as a settlement option on its network, supporting various use cases including cross-border remittances [2][11] - Mastercard's Multi-Token Network will facilitate interoperability between traditional currency, stablecoins, and tokenized deposits [12] - Mastercard is focusing on incorporating value-added services into new payment flows, particularly for B2B and cross-border payments [13] Group 3: Market Demand and Consumer Insights - A YouGov survey indicates that 54% of cryptocurrency consumers have held stablecoins in the past year, with 56% planning to increase their holdings [3] - Research from American Banker shows that 47% of banks report client interest in cryptocurrency information, and 35% in making payments using cryptocurrencies [4] - Analysts suggest that the recent announcements may enhance stablecoin adoption and improve transaction efficiencies for businesses [9][13]