Visa and Mastercard Execs Dismiss Stablecoin Utility, Raising Concerns for Crypto Investors

Top payment network leaders see limited demand for stablecoins, but crypto advocates argue they offer key advantages.

Published on Feb. 8, 2026

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Executives at major payment networks Visa and Mastercard have recently dismissed the utility of stablecoins, arguing there is little real consumer demand for them beyond cross-border payments. However, the rapidly growing $250 billion stablecoin market, led by Tether and USDC, suggests stablecoins may have more mainstream appeal than the payment giants acknowledge, especially as they offer higher yields than traditional bank accounts.

Why it matters

Visa and Mastercard's skepticism about stablecoins could signal reluctance from traditional finance to embrace this emerging crypto sector, which has seen explosive growth. But stablecoin advocates argue their 24/7 settlement, fast transaction times, and attractive yields make them an appealing alternative to traditional banking for many consumers and investors.

The details

In recent earnings calls, Visa and Mastercard executives stated they see "no product-market fit" for stablecoins in developed markets, where consumers already have ample digital payment options. They believe retail customers would prefer to use the digital dollars in their bank accounts rather than go through the hassle of owning stablecoins. However, stablecoin proponents counter that the instant settlement, 24/7 availability, and higher yields offered by stablecoins make them an attractive option, especially as Standard Chartered predicts $500 billion in bank deposits could flow into stablecoins by 2028.

  • Visa and Mastercard executives made their dismissive comments about stablecoins during recent earnings calls in 2026.

The players

Visa

A major global payments technology company that has initiated its own blockchain payment initiatives.

Mastercard

A leading global payments and technology company that has also launched blockchain-based payment solutions.

Tether (USDT)

The largest stablecoin with a market cap of over $250 billion.

USDC

The second-largest stablecoin, backed by Circle Internet Group.

Circle Internet Group (CRCL)

A fintech company that issues the USDC stablecoin.

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What’s next

Key officials in the Trump administration have expressed support for stablecoins, suggesting regulatory scrutiny of this fast-growing crypto sector may increase in the coming years.

The takeaway

While Visa and Mastercard remain skeptical, the rapid growth of the stablecoin market to over $250 billion suggests these digital assets have significant appeal to crypto investors and could disrupt traditional banking and payments in the years ahead.