Mastercard Chief Product Officer: Stablecoins alone are far from enough technology to support their widespread use as a payment tool

On July 15th, according to Bloomberg, Jorn Lambert, Chief Product Officer of Mastercard, stated that although stablecoins have technological advantages such as high speed and low cost, they still face challenges such as user experience and channel coverage in order to achieve daily payments. Currently, about 90% of stablecoin transactions are still concentrated in cryptocurrency transactions. Lambert emphasized that relying solely on technology is far from enough to support the popularity of stablecoins as a payment tool. Mastercard is positioning itself as a bridge connecting traditional finance and digital assets, and has partnered with institutions such as Paxos to support various stablecoins, including USDC, PYUSD, etc. It plans to provide a large-scale application infrastructure for stablecoins through a global merchant network and security compliance capabilities.