Mastercard Chief Product Officer: Stablecoin Cannot Achieve Mainstream Adoption as a Payment Tool Solely Through Technology
Powered by ChatGPTNews, July 15th, according to Bloomberg, Mastercard's Chief Product Officer Jorn Lambert stated that despite the technical advantages of stablecoins such as high speed and low cost, achieving everyday use still faces challenges such as user experience and network coverage. Currently, about 90% of stablecoin transactions are still concentrated in cryptocurrency trading.
Lambert emphasized that relying solely on technology is far from sufficient to support the widespread use of stablecoins as a payment tool. Mastercard is positioning itself as a bridge between traditional finance and digital assets and has partnered with institutions like Paxos to support multiple stablecoins, including $USDC, $PYUSD, etc. The company plans to provide a scalable stablecoin infrastructure through its global merchant network and robust compliance capabilities. [BlockBeats]