Visa, Mastercard and Stripe take stablecoin payments further into commercial use

Stablecoin payments moved further into mainstream financial infrastructure as Visa advanced commercial deployment, Mastercard launched a unified platform and Stripe expanded its tools. The push coincided with $482 billion in year-to-date stablecoin payments, up 45%, while regulators tightened oversight and card networks faced renewed fee litigation.

Key developments

Visa moves beyond stablecoin pilots

Visa announced that Visa Direct’s stablecoin capabilities are advancing from pilots to commercial deployment. Allium put year-to-date stablecoin payments at $482 billion, up 45%, even as supply stalled.

Growing payment use gives stablecoins a commercial role beyond holding digital dollars.

Oct 15–18 · Visa - News · CoinDesk · Finextra

Mastercard unifies fiat and stablecoins

Mastercard launched Global Money Platform with BVNK, which it acquired in August 2026. One API lets banks, fintechs and enterprises hold, convert, pay out and spend fiat currencies and stablecoins.

Businesses can combine conventional and stablecoin money movement through one service.

Oct 16 · Fintech Singapore

Stripe expands cross-border tools

Stripe introduced simpler Global Payouts management, stablecoin card support in more countries and unified APIs for global financial products. It also announced a collaboration with Plasma to launch multi-currency stablecoin cards.

Fintechs gain more ways to offer cross-border payouts and spending across currencies.

Oct 16 · Stripe Blog · Finextra

USDC receives significant-token status

The European Banking Authority classified USDC, issued by Circle Internet Financial Europe SAS, as a significant e-money token under MiCA.

USDC’s European payments and settlement business now falls within MiCA’s significant-token regulatory category.

Oct 14 · Finextra

Ramp reaches $60 billion valuation

Ramp closed a $1.85 billion funding round led by Dragoneer Investment Group at a $60 billion valuation. Annualized revenue crossed $2 billion and its customer count reached 85,000.

The financing gives Ramp more capital to compete in corporate cards and expense management.

Oct 15 · TechCrunch Fintech · Finovate

India delays UPI fee

NPCI postponed the planned October 15 rollout of a 0.4% UPI fee amid retailer pushback, citing the festive shopping season.

Retailers avoid the planned payment-cost increase during festive shopping.

Oct 13 · TechCrunch Fintech

Visa advances toward China clearing

Visa received People’s Bank of China approval to begin formal preparations for a domestic bankcard clearing institution. The approval does not authorize domestic operations.

Visa moves closer to serving China’s domestic card market, but cannot yet launch.

Oct 13 · Visa - News · Payments Dive - Latest News

Kraken parent pursues EU banking

Payward agreed to acquire Lithuania’s Saldo Bank, which holds $190 million in total assets. The acquisition would give the Kraken parent an EU license for deposits and lending.

The deal would let Payward extend its European offering beyond crypto into banking products.

Oct 14 · CoinDesk

UK businesses challenge cross-border fees

UK businesses filed a £700 million Competition Appeal Tribunal claim alleging Visa and Mastercard increased UK-EEA interchange fees five-fold after Brexit. The claim puts the annual cost to businesses at up to £200 million.

Cross-border merchant charges face a legal challenge that could affect network revenue and payment costs.

Oct 17 · The Fintech Times

Crypto losses expose supplier risks

Hacken put third-quarter crypto hack losses at $1.18 billion, with 77% involving compromised suppliers, delayed fixes or systems outside the latest security reviews. Separately, Ledger confirmed an unauthorized implant in at least one device sold by CryptoBilis; up to $93 million has been traced and $10 million frozen, while Ledger said confirmed cases were limited and internal systems unaffected.

Hardware distribution and systems outside security reviews can expose crypto holders to losses even when core systems remain intact.

Oct 12–18 · CoinDesk · CoinDesk · CoinDesk

Also this week

Banking and lending

• Revolut plans to invest US$250 million in Mexico by 2027. Mexico Business News

• Credit Agricole launched Credit Agricole Deutschland, a digital bank for Germany. Finextra

• Upgrade applied for an industrial loan company charter and named a former SoFi executive and longtime regulator as CEO of its proposed bank. Payments Dive - Latest News

• Equifax expanded its open banking offering with consumer-permissioned insights from Mastercard Open Finance for use alongside consumer credit files. Finextra

• Shares completed its purchase of Treezor from Société Générale to build a pan-European infrastructure group spanning payments, accounts, savings and investment. The Fintech Times

• The live nCino–Parlay integration processed more than $500 million in SBA loan inquiries in 2026, with lenders reporting up to 80% less manual work. The Fintech Times

• nCino launched a Loan Officer Productivity Suite that automates mortgage actions using each lender’s data, product guidelines and workflow rules. Finovate

• Splitit unveiled plans for a white-label Splitit World Mastercard that automatically divides purchases above a user-selected threshold into installments. Finovate

Payment services

• WEX and Mastercard announced a partnership to modernize fleet payments and simplify fleet management across Asia-Pacific. Finextra

• Nuvei secured Payments Association of South Africa authorization to offer local merchant payment services. Digital Transactions · Finextra

• Square updated its restaurant Kiosk with a larger display and AI ordering features. Digital Transactions

• NCR Voyix signed a multiyear agreement to supply Sbarro with point-of-sale technology and Voyix Pay payment processing. Digital Transactions

• Ethiopia officially joined the Pan-African Payment and Settlement System. Finextra

• KPay received a Singapore Major Payment Institution licence covering merchant acquisition, domestic transfers and cross-border transfers. Fintech Singapore

• dLocal and Western Union expanded their African partnership into remittance payouts, starting with a live corridor in Cameroon. Fintech News UAE

• Stripe added real-time Postgres sync to Data Pipeline so developers can keep application databases current with Stripe data. Stripe Blog

Digital asset infrastructure

• Standard Chartered began offering RLUSD custody in Dubai and plans an LMAX collateral link, following Ripple’s $150 million financing for LMAX’s RLUSD integration. CoinDesk

• BNY and Citadel Securities tested tokenized U.S. Treasuries in a transaction exploring faster collateral movement between settlement and financing. CoinDesk

• Rain launched embedded stablecoin wallets for partner apps and said earning on balances would follow by year-end. Finextra

• Qivalis, backed by BBVA, BNP Paribas and ING, received a Dutch e-money license for MiCA-compliant euro-token settlement infrastructure. CoinDesk

• Cross River Bank partnered with Ripple to integrate RLUSD into its proprietary operating system. Finextra

• Circle set a target of entering 40 new markets as its CEO described growing digital-dollar demand across Asia, Africa and Latin America. CoinDesk

• Ripple Prime will provide multi-asset clearing and financing to funds managed by Brevan Howard, the $35 billion alternative investment manager. The Fintech Times

• Polygon CEO Marc Boiron said the Coinme acquisition would help Polygon control customer relationships and capture revenue previously paid to payment intermediaries. CoinDesk

• ClearToken and Consensys plan to combine cryptographic and legal settlement finality in 24/7 delivery-versus-payment infrastructure for banks within UK regulatory frameworks. The Fintech Times

• A BIS working paper found that a one-basis-point rise in US bank deposit rates predicted a fall in ten-week stablecoin growth from 15% to 12%. CoinDesk

• SBI, Mesh Connect and Money Forward agreed to establish Mesh SBI Money Forward Network KK to build API-connected digital-asset payment infrastructure in Japan. The Fintech Times

Crypto access

• Sberbank secured crypto trading approval and plans to open trading to all clients on December 1, with bitcoin, ether and USDT already being tested in its app. CoinDesk

• Rain MENA FZE received a full Dubai license for virtual asset exchange and broker-dealer services, including margin trading. Fintech News UAE

• Standard Chartered launched Bitcoin and Ether trading through existing bank accounts for eligible affluent UAE clients with Dubai regulatory approval. Fintech News UAE

• 3iQ Middle East received in-principle approval for a Category 4 license from Abu Dhabi’s ADGM Financial Services Regulatory Authority. Finextra

Rules and litigation

• A global financial watchdog called for cross-border information sharing and stablecoin crisis planning to address reserves becoming trapped in one jurisdiction while redemptions arise in another. CoinDesk

• South Korean regulators blocked websites of 27 unregistered crypto exchanges, including Bitmart and Kucoin, extending earlier mobile-app restrictions. CoinDesk

• ASIC proposed tougher crypto exchange rules covering user assets, trading and financial stability ahead of a licensing deadline. CoinDesk

• Visa and Mastercard asked a court to approve their swipe-fee settlement, arguing that Walmart and trade groups were repeating previously rejected objections. Payments Dive - Latest News

• A U.S. judge rejected Gemini’s attempt to void its paid $5 million settlement despite CFTC backing, leaving the court order and restrictions in place. CoinDesk

• Latvia passed a law taxing crypto withdrawals above deposits rather than individual trades, with a one-time declaration mechanism, and is considering crypto tax payments in 2027. CoinDesk

Financing

• Capitolis closed $220 million in financing for its $200 million all-cash eSecLending purchase, including a $120 million Series E led by Citi at a $1.9 billion valuation. The Fintech Times

• Qippay secured a NZ$5 million investment commitment from All Roads Wholesale Fund in return for a 25% stake in parent company Qippay Group. Finextra

What to watch

• Watch Sberbank’s planned December 1 rollout of crypto trading to all clients following its in-app testing.

• Watch whether Rain adds earning on embedded stablecoin wallet balances by year-end, as promised.

• Watch for a revised timetable for the postponed 0.4% UPI fee; timing has not been announced.