Credit Card Giants Downplay Crypto Disruption Amid Rising Stablecoin Momentum
The rise of cryptocurrency – particularly stablecoins – is challenging the longstanding dominance of Visa and Mastercard in the U.S. payment system.
Despite the shift, both companies downplayed any serious threat during their recent earnings calls, even as new legislation could accelerate stablecoin adoption and give retailers or banks alternatives to traditional card networks.
Stablecoin firms like Circle Internet Group, which recently surpassed a $40 billion valuation, have seen surging investor interest. If digital dollar-based payments gain traction, they could bypass Visa and Mastercard entirely, creating a rare moment of tension around the future of payment infrastructure in the U.S.
Historically, Visa and…
