Mastercard Chief Product Officer: Stablecoins are far from sufficient to support their widespread adoption as a payment tool relying solely on technology.

robot
Abstract generation in progress

BlockBeats news, on July 15, according to Bloomberg, Mastercard's Chief Product Officer Jorn Lambert stated that despite the technological advantages of stablecoins, such as high speed and low cost, there are still challenges in terms of user experience and channel coverage for achieving daily payments. Currently, about 90% of stablecoin transactions are still concentrated in cryptocurrency trading. Lambert emphasized that (stablecoins) alone, relying on technology, is far from enough to support their widespread use as a payment tool. Mastercard is positioning itself as a bridge connecting TradFi and digital assets and has partnered with institutions like Paxos to support various stablecoins, including USDC and PYUSD, planning to provide the infrastructure for the scaled application of stablecoins through its global merchant network and secure compliance capabilities.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)