According to Woofun AI, the global payment giant Mastercard (MA.US) and Visa (V.US) unveiled a new stablecoin brand on the same day, but the strategic path was quite different: Mastercard (MA.US) built a unified account system through acquisitions and integration, while Visa (V.US) continued the independent product ecosystem cooperation model.
The Global Currency Platform (GMP) launched by Mastercard (MA.US) is the first product to launch after completing its $1.8 billion acquisition of stablecoin infrastructure company BVNK in August. The platform provides a unified API for banks, fintech companies and enterprises to simultaneously manage and convert fiat and stablecoin accounts, and supports credit cards linked to stablecoins and remit funds to local bank accounts or credit cards through the Mastercard Move function.
According to data compiled by Woofun AI, Nuvei, Marqeta (MQ.US), Ontop, Beem, and Almond FinTech have been confirmed as early customers, and although their specific integration progress is unclear, the platform is now open for use.
On the same day, Visa (V.US) announced that the Visa (V.US) direct stablecoin prepayment service, which will be piloted in 2025, will be officially put into operation, and Inyo Global became the first processor to provide this service. In contrast, Mastercard (MA.US) has a longer-term plan, saying that by 2027, payments made through the Move feature will cover more than 40 currencies in more than 200 countries, and plans to launch tokenized deposit services.
This difference reflects the different positions of the two major networks on stablecoins: Visa (V.US) launched the V.US (V.US) stablecoin platform (VSP) in July, which has the function of creating, exchanging, storing, and transferring stablecoins, but exists as an independent product; Mastercard (MA.US) integrates most of the functions into the same system and is deeply tied to fiat related businesses to form an integrated solution.