Nium, a global payments infrastructure provider, has introduced a new platform enabling businesses to issue stablecoin-funded cards through Visa and Mastercard. The system converts stablecoin balances into fiat currency at the point of sale and manages settlement, compliance and card network integration through a single layer. The company says the platform is designed to reduce the time needed to launch stablecoin card programs from months to just days by consolidating these functions into one integration.
The launch comes as interest in stablecoin payments grows across the financial technology sector. Consultancy Bain & Company recently noted that stablecoins are receiving significant attention as US legislators work to clarify the regulatory framework surrounding them. However, the proposed CLARITY Act remains stalled in Congress amid an ongoing dispute between the crypto industry and traditional banks over stablecoin rewards.
The broader stablecoin market currently exceeds $315 billion in total capitalization, according to data from DefiLlama. Tether‘s USDT dominates the market, accounting for approximately $184 billion, or roughly 58% of the total. This scale underscores the growing relevance of stablecoin infrastructure for mainstream payment systems.
Activity around stablecoin payments is expanding well beyond Nium’s announcement. In October, Visa said it would broaden its stablecoin support to four tokens across four blockchains, enabling conversion into more than 25 fiat currencies. The network 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.
Mastercard has also moved to deepen its stablecoin capabilities, agreeing earlier this month to acquire stablecoin infrastructure company BVNK in a deal valued at up to $1.8 billion, including contingent payments. The acquisition is intended to connect fiat payment rails with onchain transactions, signaling the card network’s commitment to integrating digital asset infrastructure into its existing systems.
Outside the major card networks, PayPal has been advancing its own stablecoin strategy. The company launched its PYUSD stablecoin in August 2023 and has since introduced PYUSDx, a platform that allows developers to issue dollar-pegged tokens backed by PYUSD for use within applications and digital ecosystems. Together, these developments reflect a broad industry push to bring stablecoin functionality into everyday payment infrastructure.
Originally reported by CoinTelegraph.
