Latest news with #JornLambert
Business Times
14-07-2025
- Business
- Business Times
Stablecoin has long road to mainstream payments, Mastercard says
[NEW YORK] For all the hype around stablecoins, they are a long way from becoming a viable everyday payment tool, according to Mastercard's chief product officer, Jorn Lambert. 'While the technology powering stablecoins holds tremendous promise – high speed, 24/7 availability, low costs, programmability, immutability – those attributes alone do not suffice to turn stablecoin into a payment tool,' Lambert said on Monday (Jul 14) on a call with analysts. 'Just as important, or even more so, are other attributes such as a seamless and predictable user experience, reach and wide distribution to consumers.' Mastercard is positioning itself as the bridge between digital assets and the traditional financial system. Lambert said the company can provide the infrastructure needed to make stablecoins usable at scale by lending network attributes such as global merchant acceptance, security safeguards and regulatory compliance. The strategy has been years in the making. Mastercard and Visa both have stablecoin initiatives that date back to at least 2021. More recently, Mastercard partnered with stablecoin issuer Paxos Trust Company LLC to help institutions mint and redeem a stablecoin known as USDG. It also supports stablecoins including Fiserv's FIUSD, PayPal's PYUSD and Circle's USDC, efforts that suggest the card networks see long-term opportunity in becoming stablecoin infrastructure providers. Lambert pointed out that today, roughly 90 per cent of stablecoin volume is tied to crypto trading as investors use the US dollar-pegged tokens to buy and sell digital assets. While companies such as Shopify and Coinbase Global have taken steps to make stablecoins available for everyday consumer payments, Lambert said such hurdles as consumer adoption and added friction during the online checkout experience will be difficult to clear in the near term. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The consumer value proposition for regular peer-to-merchant payments 'is lacking and stablecoin does not actually do anything in this equation', Lambert said. 'We think of that as almost a prepaid card. You have a stored balance sitting in a wallet and then you need to use it at certain merchants.' Stablecoins have been pitched as a way to bypass card networks, and their associated fees, by enabling consumer-to-merchant payments. The networks are reframing that narrative, casting themselves as partners that can increase the utility of stablecoin by integrating the currencies into their networks. 'At the end of the day, the conversion into stablecoin and out of stablecoin will always be there, into fiat, because that's the usable currency right now,' Raj Seshadri, chief commercial payments officer at Mastercard, said. 'The cost of stablecoin is just the cost of stablecoin, it's not the cost of the end-to-end use case, which has this on and off ramp, FX, regulatory compliance, settlement, et cetera.' The chatter surrounding stablecoin has only grown louder as stablecoin legislation progresses in the US. The pending regulatory clarity has drawn new entrants into the digital asset sector and encouraged financial institutions to consider their place in the evolving industry. It has become a higher priority as financial institutions consider the risk of funds being held as stablecoin balances instead of as bank deposits. 'Every financial institution in the world is wondering 'Gee, what do we need to do here? Do we need to offer stablecoins? Do we need to offer deposit tokens? What is the product-market fit?' Lambert said. 'Many issuers are looking at it simply to make sure they keep hold on their deposits.' In addition to financial institutions, governments and central banks around the world are considering how to spur innovation in their domestic ecosystems to avoid the dollarisation of their economies. 'We will see that multiplicity emerge over time,' Lambert said. BLOOMBERG
Bloomberg
14-07-2025
- Business
- Bloomberg
Stablecoin Has Long Road to Mainstream Payments, Mastercard Says
For all the hype around stablecoins, they're a long way from becoming a viable everyday payment tool, according to Mastercard Inc. 's chief product officer, Jorn Lambert. 'While the technology powering stablecoins holds tremendous promise — high speed, 24/7 availability, low costs, programmability, immutability — those attributes alone do not suffice to turn stablecoin into a payment tool,' Lambert said Monday on a call with analysts. 'Just as important, or even more so, are other attributes like a seamless and predictable user experience, reach and wide distribution to consumers.'
Globe and Mail
10-07-2025
- Business
- Globe and Mail
Mastercard Incorporated to Host Information Session on Agentic Commerce and Stablecoins
On Monday, July 14, 2025 at 10:00 a.m. Eastern Time, Mastercard Incorporated (NYSE: MA) will host a session to explore Mastercard's recent announcements in agentic commerce and stablecoins and our strategy for driving the realization of these opportunities. The call will last for approximately 45 minutes, led by Jorn Lambert, chief product officer, and Raj Seshadri, chief commercial payments officer, and will include a Q&A session to answer questions related to this topic. The webcast link and call recording will be posted to the company's website at Conference Call Details: Toll-free dial-in: +1 646-968-2525 International toll: +1 888-596-4144 Conference ID: 9229765 A replay of the call will be available for 30 days and can be accessed below: Toll-free dial-in: +1 646-968-2525 International toll: +1 888-596-4144 Conference ID: 9229765 About Mastercard Incorporated (NYSE: MA), Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Business Wire
10-07-2025
- Business
- Business Wire
Mastercard Incorporated to Host Information Session
PURCHASE, N.Y.--(BUSINESS WIRE)--On Monday, July 14, 2025 at 10:00 a.m. Eastern Time, Mastercard Incorporated (NYSE: MA) will host a session to explore Mastercard's recent announcements in agentic commerce and stablecoins and our strategy for driving the realization of these opportunities. The call will last for approximately 45 minutes, led by Jorn Lambert, chief product officer, and Raj Seshadri, chief commercial payments officer, and will include a Q&A session to answer questions related to this topic. The webcast link and call recording will be posted to the company's website at Conference Call Details: Toll-free dial-in: +1 646-968-2525 International toll: +1 888-596-4144 Conference ID: 9229765 A replay of the call will be available for 30 days and can be accessed below: Toll-free dial-in: +1 646-968-2525 International toll: +1 888-596-4144 Conference ID: 9229765 About Mastercard Incorporated (NYSE: MA), Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Yahoo
25-06-2025
- Business
- Yahoo
Mastercard Expands Stablecoin Push With Paxos, Fiserv and PayPal Integrations
Mastercard (MA) is doubling down on stablecoins with a series of partnerships and product expansions aimed at embedding regulated digital dollars into the everyday payments network. The payments giant said on Tuesday it will integrate several stablecoins including PayPal's PYUSD, the Paxos-led Global Dollar (USDG) and Fiserv's recently unveiled FIUSD into its global network, which already includes support for Circle's USDC. It is also introducing stablecoin transactions for cross-border payments through Mastercard Move. The company also said it's also working with financial technology provider Fiserv (FI) to bring FIUSD support to its card products, on- and offramps and merchant settlements, and will let consumers spend both fiat and stablecoin balances under a single interface with Mastercard One Credential. The initiatives are the latest examples of global banks and payment firms racing to embrace stablecoins, a type of digital currency with prices anchored to an external asset such as fiat currencies, into their offerings. It's a $260 billion, and rapidly growing, asset class and promises programmable transactions and faster, cheaper payments than through traditional banking channels. Institutional adoption is accelerating after the U.S. Senate passed the GENIUS Act to regulate the stablecoin sector. "We expect that consumers and businesses will continue to use fiat currency with their Mastercard cards for most use cases," Jorn Lambert, chief product officer at Mastercard, said in a blog post. "But regulated stablecoins are undoubtedly part of the evolution of digital payments." These moves mean financial institutions and businesses could soon mint, redeem and settle transactions using select stablecoins, while consumers may use them in the same way they would use traditional currencies for transfers and payments, including at the firm's 150 million merchant locations. The stablecoin integrations join existing digital asset offerings, which span card programs with crypto firms that allow users to spend their crypto holdings to merchant settlements and tokenized bank deposits. Future plans include enabling programmable payments via Mastercard's Multi-Token in to access your portfolio
