Visa, Mastercard are in talks with Stripe and Coinbase to form a stablecoin alliance

According to Fortune, Visa, Mastercard are negotiating with Stripe and Coinbase to form a stablecoin alliance and launch a stablecoin platform. If the plan is implemented, it may reshape the current stablecoin market dominated by USDT and USDC and with a scale of more than US$300 billion. The alliance is expected to accelerate the popularity of stablecoins in retail payment scenarios. With the huge merchant network of Visa, Mastercard and Stripe, the new platform may promote and merchants to adopt intra-alliance stablecoins and bring new sources of income such as reserve interest to participants. However, the plan is still in the early stages of discussion and no formal agreement has been reached.