Visa and Mastercard are rapidly expanding into the stablecoin space and seeking acquisitions or investments.

Odaily Planet Daily reports that Visa and Mastercard are rapidly embracing cryptocurrency payments to capitalize on the growing popularity of stablecoins in developing countries and fend off competition from merchants attempting to bypass their networks. Both companies have been aggressively expanding their cryptocurrency payment businesses overseas and have been seeking acquisition or investment opportunities. Visa is looking to invest in stablecoin startups, particularly in infrastructure that could help it expand its banking network and increase its user base. (The Information)