Visa and Mastercard race to tame a $253 bn crypto threat

A digital payment battle is brewing as tech firms and crypto startups challenge Visa and Mastercard's dominance. Stablecoins, pegged to the dollar, offer merchants lower fees and faster settlements by bypassing traditional card networks. This poses a significant threat to the established financial system, prompting Visa and Mastercard to adapt by integrating stablecoins into their platforms and highlighting crypto-linked initiatives.