Mastercard CEO: 90% of stablecoin transaction volume is trapped in the crypto space, and adoption for everyday payments faces significant hurdles.
On July 15th, according to Zhitong Finance, Mastercard (MA.US) Chief Product Officer Jorn Lambert stated that although stablecoins are highly sought after, they still have a long way to go to become a viable everyday payment tool. Lambert said that in addition to technical attributes, a seamless and predictable user experience, broad coverage, and wide consumer distribution are also critical for stablecoins to become a payment tool. Lambert stated that Mastercard is positioning itself as a bridge between digital assets and the traditional financial system and can provide the infrastructure to enable stablecoins to be used on a large scale. Lambert pointed out that about 90% of stablecoin trading volume today is related to cryptocurrency trading, with investors using these dollar-pegged tokens to buy and sell digital assets. Although companies such as Shopify (SHOP.US) and Coinbase (COIN.US) have taken steps to promote the use of stablecoins for daily consumer payments, Lambert believes that obstacles such as low consumer acceptance and additional operational friction in the online checkout process are difficult to overcome in the short term. [TechFlow]
Mastercard CEO: 90% of stablecoin transaction volume is trapped in the crypto space, and adoption for everyday payments faces significant hurdles.
On July 15th, according to Zhitong Finance, Mastercard (MA.US) Chief Product Officer Jorn Lambert stated that although stablecoins are highly sought after, they still have a long way to go to become a viable everyday payment tool. Lambert said that in addition to technical attributes, a seamless and predictable user experience, broad coverage, and wide consumer distribution are also critical for stablecoins to become a payment tool. Lambert stated that Mastercard is positioning itself as a bridge between digital assets and the traditional financial system and can provide the infrastructure to enable stablecoins to be used on a large scale. Lambert pointed out that about 90% of stablecoin trading volume today is related to cryptocurrency trading, with investors using these dollar-pegged tokens to buy and sell digital assets. Although companies such as Shopify (SHOP.US) and Coinbase (COIN.US) have taken steps to promote the use of stablecoins for daily consumer payments, Lambert believes that obstacles such as low consumer acceptance and additional operational friction in the online checkout process are difficult to overcome in the short term. [TechFlow]
