MasterCard: It will take time for stablecoins to become mainstream payment tools

ChainCatcher news, according to Bloomberg, Mastercard's Chief Product Officer Jorn Lambert stated that stablecoins have a long way to go before becoming a viable everyday payment tool. Lambert pointed out that, in addition to technical attributes, factors such as user experience, coverage, and consumer distribution are equally important.

On a technical level, Lambert mentioned that although stablecoins possess characteristics such as high speed, 24/7 availability, low cost, and programmability, these are not enough to make them a payment tool. Mastercard is positioning itself as a bridge between digital assets and the traditional financial system, providing infrastructure to support the large-scale use of stablecoins.

In the future, Jorn Lambert emphasized that the consumer value proposition of stablecoins is still insufficient, and there is additional friction in the online payment process. As stablecoin legislation progresses, financial institutions and governments are also considering how to innovate in this area to avoid the risks of economic dollarization.