Mastercard’s CEO on Stablecoins: “Why Would You Do That?”
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Mastercard (MA) CEO Michael Miebach makes a claim most crypto commentary won’t: you do not need a stablecoin to buy coffee. There’s no problem to solve — cards already handle that. Where he does see opportunity is cross-border. Send $100 through correspondent banking and two intermediaries might take $5 each, leaving $90, with no transparency on whether it arrived. Stablecoins fix that. Mastercard’s network already handles US dollars, other fiat, and stablecoins on the same rails, with the same card-level protections attached.
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