📰 Are Visa & Mastercard in Trouble? Stablecoins Could Change the Game

New US stablecoin law could shake up payment giants. We explore what this means for Visa and Mastercard — and share our view.

Jun 20, 2025

🚨 What's happening?

This week, the US Senate approved a major new law called the GENIUS Act to regulate stablecoins — a big step toward making these digital currencies more accepted and trusted.

But what are stablecoins?

Stablecoins are a type of cryptocurrency designed to keep a stable value. They are usually linked to a real-world currency, like the US dollar. For example, 1 stablecoin = 1 US dollar. This makes them much less volatile than regular cryptocurrencies like Bitcoin.

More importantly: stablecoins can be used to send money quickly and cheaply —without banks or credit card networks. That’s why many people see them as a possible new way to pay online or in stores.

💳 Why does this matter for Visa and Mastercard?

Visa V 0.00%↑ and Mastercard MA 0.00%↑ are not just credit card companies. They control the payment networks behind most of the world’s (digital) purchases.

Whenever you use your card or buy something online, there’s a good chance Visa or Mastercard is involved. These networks process hundreds of billions of dollars in transactions every year and earning fees on each payment.

Stablecoins could change that.

With stablecoins, you could send money directly to a store, website, or person — without going through traditional payment networks. That means faster payments, lower fees, and possibly a much cheaper way for businesses to get paid.

Now that the US Senate has approved this new law, companies like Amazon and Walmart are starting to explore using stablecoins for payments. If they succeed, it could put pressure on Visa and Mastercard’s traditional business model.

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🛑 Is this the end of Visa and Mastercard?

Not so fast.

Even though stablecoins offer some big benefits, there are still reasons why Visa and Mastercard remain strong for now:

They’re everywhere. Visa and Mastercard are accepted in over 200 countries, online and offline. Stablecoins have a long way to go to catch up.
People trust them. Most consumers are familiar with credit and debit cards. Stablecoins are still new and confusing to many.
They’re adapting. Visa and Mastercard aren’t ignoring this trend. Both are investing in blockchain technology and working on ways to use stablecoins in their own networks.
Regulation is still unclear globally. The US has made progress, but other countries are moving more slowly or are against stablecoins altogether.

So, while stablecoins could grow fast, they probably won’t replace Visa and Mastercard overnight. It’s more likely that they will exist alongside each other — for now.

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💡 What do we think?

Stablecoins are getting serious. With this new US law, we’re entering a phase where digital dollars can become a real option for everyday payments.

This could bring more competition to the payments world. And over time, it could mean lower fees and faster transactions for both businesses and consumers.

But we don’t believe Visa and Mastercard are in danger just yet. They have deep relationships with banks, merchants, and governments. And they’re already moving to be part of the new system.

In the short term, we see stablecoins as a new layer of innovation — not a total replacement.

For investors, this is something to watch closely. If stablecoins continue to grow, the payment industry could look very different in 5 to 10 years.

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📝 In summary

The US senate just approved an important stablecoin law.
Stablecoins could make payments faster and cheaper, without using Visa or Mastercard.
Big companies like Amazon and Walmart are exploring this.
Visa and Mastercard might lose some business in the future, but they are still strong today and are adapting.
This is not the end of Visa and Mastercard, but it’s a shift that could change how we all pay.

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