Interesting to see Mastercard, Square, Stripe, FIS, Fiserv and Visa all mentioned in "Market Participants".
None of those actively today use/settle stablecoins publicly?
back
5 comments
I don't believe they support them today, but all of these companies have announced plans to adopt crypto in some form, including stablecoin support or Ethereum-based settlement.
Visa uses Ethereum mainnet today (for about 6 months or more?) to settle obligations between a small subset of their merchants whose businesses are in crypto.
wasn't this a pilot?
Yes, I think you're right, it was a pilot
https://www.forbes.com/sites/ninabambysheva/2021/03/29/visa-...
I'm not sure if that means the pilot was discontinued or what amounts of money were involved.
Also no mention of FTX. Pretty surprising given their importance in the market.
> None of those actively today use/settle stablecoins publicly?
No but they settle financial transactions today, and the SEC is basically saying there should be no difference.
> No but they settle financial transactions today, and the SEC is basically saying there should be no difference
This report is from the Treasury. Not the SEC.
Also, the SEC doesn't regulate financial transactions. Just securities and exchanges. The SEC has argued that stablecoins are securities. That is an interesting argument, and I sort of see both sides of it, but somewhat unrelated to this paper.
all of the above are heavily involved in crypto.