Global payments infrastructure provider Nium has launched a platform that allows businesses to issue stablecoin-funded cards through Visa and Mastercard, in the latest development enabling digital dollar balances to be spent at merchants using existing card networks.
Nium <a href="https://www.prnewswire.com/news-releases/nium-launches-dual-network-stablecoin-card-issuance-platform-enabling-businesses-to-spend-digital-dollars-at-hundreds-of-millions-of-merchant-locations-worldwide-302728021.html" rel="noopener noreferrer nofollow">said</a> the system converts stablecoin balances into fiat at the point of sale and handles settlement, compliance and card network integration through a single integration.
The tech company said it expects to be able to shorten the time required to launch stablecoin card programs from months to days by consolidating conversion, settlement and compliance into a single integration layer.
Consultancy Bain &amp; Company <a href="https://www.bain.com/insights/from-niche-to-utility-stablecoins-move-toward-the-financial-mainstream/" rel="noopener noreferrer nofollow">said</a> recently that “Stablecoins are having a headline moment as US legislators turn their attention to clarifying the rules of the game.” The proposed CLARITY Act is stuck in Congress as the crypto industry and the nation’s banks battle over stablecoin rewards.
At the time of writing, the stablecoin market capitalization exceeds $315 billion, according to DefiLlama data, with Tether’s USDT (<a rel="noopener noreferrer nofollow">USDT</a>) accounting for about $184 billion, or around 58% of the market.
<figure><img alt="Visa, PayPal, Mastercard, Tether, Meta, PayPal USD" src="https://s3.cointelegraph.com/uploads/2026-03/019d3fa2-9d48-7c12-a209-c130e132409b.png">
 <figcaption>Stablecoin market cap. Source: <a href="https://defillama.com/stablecoins" rel="noopener noreferrer nofollow">DefiLlama</a>
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Related: <a href="https://cointelegraph.com/features/etheruem-flippening-odds-rise-wont-involve-bitcoin" rel="noopener noreferrer nofollow">Ethereum risks losing No. 2 spot as stablecoins gain ground</a>
<h2 id="stablecoin-payments-expand-across-networks-and-platforms">Stablecoin payments expand across networks and platforms</h2>
US legislation notwithstanding, activity around stablecoin payments is expanding across card networks, fintechs and technology platforms.
In October, <a href="https://cointelegraph.com/news/visa-supporting-four-stablecoins-four-blockchains" rel="noopener noreferrer nofollow">Visa said it would expand its stablecoin support</a> to four tokens across four blockchains, allowing conversion into more than 25 fiat currencies. It already supports stablecoins including Circle’s USDC and Euro Coin, as well as PayPal USD and Global Dollar, across networks such as Ethereum, Solana, Avalanche and Stellar.
Earlier this month, Mastercard agreed to <a href="https://cointelegraph.com/news/mastercard-to-acquire-bvnk-in-1-8b-stablecoin-deal" rel="noopener noreferrer nofollow">acquire stablecoin infrastructure company BVNK</a> in a deal valued at up to $1.8 billion, including contingent payments, to connect fiat payment rails with onchain transactions.<iframe src="https://www.youtube.com/embed/ry9MI57Pbjs?start=" sandbox="allow-scripts allow-same-origin allow-popups allow-forms"></iframe>
Beyond the card networks, PayPal, which launched its PYUSD (<a rel="noopener noreferrer nofollow">PYUSD</a>) <a href="https://cointelegraph.com/news/paypal-launches-stablecoin-for-payment" rel="noopener noreferrer nofollow">stablecoin in August 2023</a>, recently <a href="https://cointelegraph.com/news/paypal-moonpay-and-m0-launch-pyusdx-to-let-apps-create-their-own-stablecoins" rel="noopener noreferrer nofollow">introduced PYUSDx</a>, a platform that allows developers to issue dollar-pegged tokens backed by PYUSD for use in transactions within applications and digital ecosystems.
Magazine: <a href="https://cointelegraph-magazine.com/dirty-secret-quantum-signatures-no-one-knows/" rel="noopener noreferrer nofollow">Nobody knows if quantum secure cryptography will even work</a>

Nium launches stablecoin card issuance platform across Visa and Mastercard

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