Will Coinbase join the new platform?

Coinbase is reportedly evaluating joining the rival platform, but no final decision has been made.

How does this affect Circle?

The new platform could increase competitive pressure on Circle, but also underscores the growing importance of stablecoins in payments.

What are stablecoins?

Stablecoins are digital currencies pegged to stable assets like the US dollar, used to facilitate digital payments.

Visa, Mastercard, Stripe Join Forces on Stablecoin Platform to Rival Circle

Visa, Mastercard, Stripe and other major financial companies are collaborating on a new stablecoin platform that would directly compete with Circle Internet Group's USDC product. Coinbase, previously a key partner to Circle, is reported to be evaluating whether to join this rival platform.

June 5, 2026

2 min read

Source: Simply Wall St.

Visa (V), Mastercard (MA), Stripe and other large financial companies are collaborating on a new stablecoin platform that directly competes with Circle Internet Group's USDC product.

Platform Details

The consortium represents the first broad stablecoin initiative from global payments brands with extensive merchant reach. The platform aims to offer a competitive alternative to USDC, the most widely used dollar-linked stablecoin.

Coinbase's Position

Coinbase, previously a key partner to Circle in managing USDC, is reportedly evaluating whether to join this rival platform. This decision could reshape stablecoin alliances.

Context

The move comes as stablecoins experience rapid growth, with traditional payment companies seeking to enter the space. Circle (NYSE:CRCL) remains at the center of dollar-linked stablecoins.

What This Means for Investors

This initiative could increase competitive pressure on Circle, but also signals growing confidence in stablecoins as a mainstream payment tool. Investors in V and MA may see new opportunities, while CRCL investors could face volatility.

Frequently Asked Questions

It is a stablecoin platform being developed by Visa, Mastercard, Stripe and other financial companies to compete with Circle's USDC.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.