Four of the most powerful names in payments, Stripe, Visa, Mastercard, and Coinbase, are forming a consortium to launch a new stablecoin platform. The companies that collectively process the majority of the world’s card transactions want a piece of the fastest-growing corner of crypto.
The stablecoin market currently exceeds $325 billion in total value. Circle and Tether together command roughly 80% of that market. This consortium is a direct challenge to that duopoly, and it’s backed by companies with distribution networks that dwarf anything in crypto today.
What we know so far
Stripe, Visa, and Mastercard are the confirmed backers of the forthcoming platform, with Coinbase reportedly considering joining the effort. The project is still in early stages, with no official name, token details, or reserve structure disclosed publicly.
Stripe acquired Bridge, a stablecoin infrastructure company, for $1.1 billion in late 2024. Mastercard acquired BVNK earlier in 2026 to strengthen its own stablecoin capabilities. Reports regarding this consortium emerged on June 3, 2026, from unnamed sources.
