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Mastercard and Visa Extend Support for Stablecoin Settlement
Mastercard and Visa are expanding their support for stablecoin settlements, with SoFi Technologies enabling its stablecoin, SoFiUSD, across global payment networks. This strengthens stablecoins' position in finance, challenging traditional banking systems and encouraging more financial institutions to adopt stablecoin technology. Increased stablecoin adoption could lead to regulatory developments and influence central bank digital currency (CBDC) strategies. As traditional banks face pressure to innovate, they must adapt or risk losing relevance in a rapidly evolving landscape.