BlockBeats News, June 8th. According to sources familiar with the matter as cited by Fortune, Visa and Mastercard are in discussions with companies such as Stripe and Coinbase to form a stablecoin alliance and launch a new stablecoin platform. The negotiations may also involve more participants.

If the cooperation is finalized, it will have a significant impact on the over $300 billion stablecoin market. Leveraging the extensive coverage of Visa, Mastercard, and Stripe in the global retail payment sector, the new platform is poised to further promote the use of stablecoins in everyday payment scenarios.

The market is also watching closely for the impact of this plan on Circle. Currently, USDC dominates a large portion of the regulated stablecoin market in North America and Europe. Industry insiders believe that Visa, Mastercard, Coinbase, or all three may use the alliance to encourage merchants to use their own stablecoins, thereby gaining new revenue sources such as reserve interest.

For Coinbase, it continues to benefit from the 2023 agreement with Circle, which allows it to receive the majority of the USDC reserve interest, while Circle is responsible for key operational and regulatory matters. However, as the two parties may renegotiate their terms of cooperation in the future, Coinbase may seek more opportunities through new stablecoin collaborations.

Reports indicate that the companies involved have not reached a formal agreement at present, and may not have even signed a Memorandum of Understanding (MOU) yet. At this stage, the discussions are still in the early stages. Analysts believe that establishing a cross-industry alliance faces challenges such as complex coordination, competitive relationships, and antitrust reviews. Therefore, it may take several months before the project is implemented, and there is still uncertainty about whether it will ultimately move forward.