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Visa & Mastercard's Blockchain Gambit: How Payment Giants Are Battling for Web3 Dominance Through Stablecoins and Infrastructure Overhaul

Gate Research (February 22-27, 2025): On February 21, Gate.io Launchpool introduced Rivalz Network (RIZ). The same day, Bybit experienced a major security breach with approximately $1.5 billion in ETH stolen. On February 24, Infini faced abnormal fund transfers due to internal operational errors, but fully compensated users to protect their assets. On February 25, Ethereum's Pectra upgrade hit roadblocks on the Holesky testnet, failing to reach final confirmation, which could potentially delay mainnet deployment. On February 26, the SEC officially ended its investigation into Uniswap. Also on February 26, Ondo Finance announced its integration with the Mastercard network.

The article analyzes the technical details of this collaboration, including Swapper Finance as the user front-end entry, Shift4 Payments providing card payment processing, ZeroHash responsible for the conversion between fiat currency and encryption, and Chainlink's decentralized oracle network ensuring the security of transactions and the reliability of data.

An in-depth analysis of the important role stablecoins play in Africa's digital economy, exploring how stablecoins improve financial services, drive economic development, and enhance financial inclusion. The article details successful case studies such as OnAfriq, AZA Finance, and WSPN, showcasing how they address challenges in traditional financial systems through stablecoins.

As the global digital economy rapidly advances, Africa stands at a crossroads where digital transformation is key to driving economic change and sustainable development. Financial inclusion, which aims to use digital technology to broadly address the issue of access to financial services, presents one of the biggest opportunities within Africa’s digital sector.

Fonbnk’s tokenization of airtime minutes and integration with mobile money services present an innovative model with the potential to expand financial services to underbanked populations in African markets.