According to Deep Tide TechFlow, on August 2, the cryptocurrency boom led by stablecoins has intensified the uncertainty in the U.S. credit card market. Executives from Visa and Mastercard downplayed the threat of dollar-pegged digital currencies during their earnings call.
Although Visa and Mastercard provide comfort to the market with stable profits and strong valuations, the market capitalization of stablecoin operator Circle Internet Group has surpassed $40 billion, indicating a divide in capital market expectations for changes in the payment sector.