Stablecoins : Stripe, Visa and Mastercard Prepare a Masterstroke Against Circle and Tether
The payment giants Stripe, Visa and Mastercard unite to launch a stablecoin platform. Circle, leader with USDC, sees its stock collapse by 11%! A revolution is underway… Who will dominate the $319 billion market?
In Brief
- Stripe, Visa and Mastercard want to launch a stablecoin platform to compete with Circle and Tether.
- Circle loses 11% on the stock market, its deal with Coinbase ($2.64 billion revenue) in danger.
- $319 billion at stake, the stablecoin war will soon redefine payments.
Stripe, Visa and Mastercard Unite for a Stablecoin Platform
The payment giants Stripe, Visa and Mastercard have announced a joint stablecoin platform, a direct threat to Circle (USDC) and Tether (USDT), which control 80% of the $319 billion market. This initiative comes as stablecoins are increasingly integrated into traditional payment infrastructures, with players like Visa having already reached an annual volume of $7 billion through their stablecoin settlement programs.
For Circle, the news is a hard blow. Indeed, its stock dropped 11% in one session, going from $100.85 to $90.13, while its key agreement with Coinbase (which brought in $2.64 billion in 2025) is up for renewal in August 2026. Investors fear that Coinbase, currently evaluating its stake in the competing platform, may leave Circle to join Stripe, Visa and Mastercard. Such a decision would disrupt the market balance, potentially drastically reducing Circle’s revenues, which heavily depend on its partnerships.
Circle and Tether: The End of an Era for Stablecoin Pioneers?
Circle (USDC) and Tether (USDT) have long dominated the stablecoin market, but their hegemony is threatened. Indeed, with the arrival of Stripe, Visa and Mastercard, the pioneers of the sector could lose their edge. Circle, already weakened by its stock price fall and dependency on Coinbase, sees its business model called into question.
Tether, although less exposed to exchange partnerships, is not safe either. Increased competition and the integration of stablecoins into traditional payment systems could reduce demand for USDT, especially if new players offer more stable and regulated solutions. Is an era ending for the pioneers of stablecoins?
The stablecoin war is on. Stripe, Visa and Mastercard vs Circle and Tether (USDT). Who will win? One thing is sure, the $319 billion market will never be the same. And you, which stablecoin will you choose?
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.