Mastercard and Visa Back Stealth Stablecoin Platform

Mastercard, Stripe and Visa are among the backers of a stablecoin platform that will soon be introduced, CoinDesk reported Wednesday (June 3), citing unnamed sources.

Coinbase is considering participating in the platform, the report said, citing one of the unnamed sources.

The report included no further details about the reported platform.

Reached by PYMNTS, Visa declined to comment on the report.

Neither Coinbase, Mastercard nor Stripe immediately replied to PYMNTS’ request for comment.

The report came on the same day that Mastercard announced it plans to add stablecoin options to its settlement capabilities to give issuers and acquirers more choice in how and when they settle transactions.

“The next phase of stablecoin adoption is about real-world utility, especially in settlement, where timing and liquidity matter most,” Raj Dhamodharan, executive vice president, Blockchain & Digital Assets at Mastercard, said in a Wednesday press release.

Visa announced in April that it was adding five more blockchains to its global stablecoin settlement pilot, bringing the total number of blockchains it supports to nine. The company said that increasing the number of supported blockchains gives issuers and acquirers a greater number of ways to settle with the network.

“Expanding our stablecoin settlement pilot program to more blockchains means our partners can choose the networks that best fit their needs, while relying on Visa to provide a common settlement layer across all of them,” Rubail Birwadker, global head of growth products and strategic partnerships at Visa, said in an April press release.

Visa and Stripe-owned stablecoin infrastructure platform Bridge said in March that they were expanding their partnership and would extend the global card issuance product they introduced in 2025. The companies launched stablecoin-linked cards, brought their partnership to 18 countries, and plan to expand it to more than 100 countries by the end of the year.

“Visa’s stablecoin settlement pilot enables Visa issuers and acquirers, including those issuing Bridge-enabled cards, to settle with Visa using stablecoins over supported blockchain networks,” the companies said in a March press release.

Coinbase management said during a May earnings call that the company views stablecoins not merely as crypto tools but as internet-native financial primitives. Leadership emphasized global settlement, always-on payments and efficient money movement, PYMNTS reported at the time.