Executives say Visa and MasterCard payment controls not threatened by Stablecoins -

The two largest payment companies in the world are not worried about potential threats to their business models from Stablecoins.

In the company’s latest revenue calls, Visa and MasterCard executives, which process $8 trillion in payments worldwide, each year at $13.2 trillion and $8 trillion per year, respectively, show that the Giants are ready to hug them rather than fight Stablecoins.

says Visa CEO Ryan McInerney.

“…Stablecoins could potentially make cross-border transactions faster. By the way, that applies to consumers and businesses. And we’ve tested it, tested a series of corridors and used Stablecoins directly.

As I said in my prepared remarks, I think there is a real product market that is suitable for the stability of remittances in a particular corridor. And as the world’s largest money movement platform, we will adopt many of them early on behalf of our clients and their end users. ”

In MasterCard’s second quarter revenue call, CEO Michael Miebach also suggested that Stablecoins is not a major threat to the company and is an asset that enhances its services.

“And we see this as another currency for stubcoin. We also add to our network that offers the opportunity to provide on and off ramps from Fiat to Stablecoin, providing (advice) and wallets, bringing interoperability, related services, and giving us global reach and opportunities to bring trust to certain use cases.”

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