{
  "id": 5420771,
  "title": "Stablecoins This Week: Building the Market’s Visa and Mastercard Layer",
  "url": "https://urgent.news/2026/09/03/stablecoins-this-week-building-the-markets-visa-and-mastercard-layer",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T21:37:52.000Z",
  "source": {
    "name": "PYMNTS",
    "slug": "pymnts",
    "url": "https://www.pymnts.com/cryptocurrency/2026/stablecoins-this-week-building-the-markets-visa-and-mastercard-layer/"
  },
  "original_language": "en",
  "account": "The stablecoin market is undergoing a significant transformation, with 21 major financial institutions planning to collaborate on a jointly backed stablecoin venture. The Securities and Exchange Commission is also preparing rules for a market where blockchain can be used to track securities ownership records. SoFi has partnered with Payward, the parent company of cryptocurrency exchange Kraken, to connect banking and digital asset markets. The main focus now is on interoperability, as banks, FinTechs and financial institutions aim to create a network capable of making all stablecoins usable together, similar to how Visa and Mastercard operate. Instead of individual stablecoin issuers, the market is moving toward a common network that allows for seamless transactions across various currencies and financial institutions. However, the success of this initiative depends on the ability to manage interoperability, liquidity, and compliance, similar to how card networks solved the problem of connecting thousands of fragmented endpoints.",
  "summary": "The stablecoin market, in an evolution that belies its own prefix, is entering a period of flux. While the stablecoin market’s first phase rewarded issuance and liquidity, this week’s headlines suggest the bigger competition is moving somewhere else. Twenty-one major financial institutions are moving forward with plans for a jointly backed stablecoin venture. The Securities […] The post…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}