In an interview with Bloomberg on October 9, 2026, Mastercard CEO Michael Miebach said stablecoins are gaining the most traction in cross-border payments. He identified slow settlement times and opaque fees as the key problems stablecoins can solve by enabling near-instant transfers on blockchain. Mastercard acquired BVNK, a digital asset infrastructure provider, in a deal valued at up to 1.8 billion dollars to cover the full lifecycle of stablecoin transactions. The company supports several stablecoins including USDC, Paxos, and RLUSD, and backs Open USD on Solana alongside Visa, Stripe, and around 100 other partners. Miebach clarified that stablecoins represent an enhancement to Mastercard’s existing offerings rather than a replacement for cards, with a commitment to maintaining consumer protections similar to those of card transactions.
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