The battle for dominance in the crypto-powered payments market is heating up as Mastercard and Visa go head-to-head in the fast-growing stablecoin sector, now worth over $250 billion.
Mastercard has stepped into the spotlight with the launch of a zero-fee crypto card in partnership with Bitget Wallet, offering users a way to spend digital assets at over 150 million merchants globally—without the typical costs associated with traditional card networks.
Visa, unwilling to fall behind, is rolling out its own stablecoin initiative across Latin America, including countries like Mexico, Colombia, and Argentina. The move reflects growing urgency among incumbents to adapt, as stablecoin transactions soared past $27 trillion last year—eclipsing even the combined volume of both payment giants.
With U.S. merchants alone paying $187 billion in card fees annually, the threat from fee-free crypto cards is real. Mastercard’s aggressive pivot aims to win over users seeking low-cost, high-speed alternatives for everyday spending, while Visa is opting for a more integrative route, enabling users to spend stablecoins directly through its existing infrastructure.
Industry leaders on both sides are recognizing the scale of the shift. Bitget Wallet’s CMO called the new collaboration “a bridge to real-world crypto utility,” while Visa’s chief product officer emphasized the company’s long-standing focus on “tokenizing value.”
As both giants reposition, the larger war is just beginning. Analysts expect the stablecoin sector to grow beyond $2 trillion in the coming years, pressuring traditional players to evolve—or be replaced.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/crypto-payments-go-mainstream-pressuring-traditional-networks/