Stripe, Visa and a broad roster of financial and tech firms plan stablecoin push aimed at Tether and Circle

A new stablecoin initiative backed by a large group of technology, payments, and financial-services companies is reportedly being assembled to compete with existing dollar-linked tokens from Tether and Circle, according to a Yahoo Finance report published Tuesday.

The report names Stripe and Visa among the participants and says the effort involves more than 140 businesses overall. It also highlights several prominent brands, including BlackRock, American Express and Google, as part of the wider roster.

Stablecoins are digital tokens designed to maintain a stable value, typically by tying them to the U.S. dollar or related reserves. They are increasingly used for faster settlement in crypto markets and, more recently, for payments and treasury functions that firms want to run on blockchain rails.

In the current stablecoin landscape, Tether and Circle are widely viewed as the dominant issuers. The Yahoo Finance piece frames the new effort as a bid to create a rival stablecoin option, suggesting that the participating companies want to secure distribution and infrastructure before the next wave of stablecoin adoption.

Visa, as a major payments network, has been exploring ways to support tokenized money flows through partnerships and pilots. If Visa is indeed part of a broader stablecoin group, it would underscore how traditional payments firms are looking to connect their card and transaction ecosystems to blockchain-based settlement.

For large asset managers and card issuers named in the report, stablecoins also present an operational question: how quickly and safely they can move value using blockchain while complying with banking, custody, reserves and transfer rules. While the details of each participant’s role were not included in the Yahoo Finance summary, the inclusion of companies like BlackRock and American Express points to interest beyond purely trading use cases.

The report does not provide enough information to determine the stablecoin’s specific design, its reserve and redemption structure, target markets, or the regulatory pathway the group intends to follow. It also does not clarify whether the companies are co-issuing a single token, building shared infrastructure around issuance, or joining a platform where multiple tokens or custodians may be involved.

What to watch next is any formal announcement that outlines governance, custody and reserve policies, along with timelines for launch and pilots. Stablecoin competition has often turned on trust, transparency and execution, not just branding, so the first concrete disclosures will likely focus on how the token is issued and redeemed, and what partners handle transfers and compliance.