Major companies are increasingly looking to control their own payment systems rather than rely on card networks like Visa and Mastercard, according to the CEO of Bastion. That push is expected to fuel a shift toward stablecoins, a move that could cut costs for businesses and challenge the dominance of traditional card networks.
The cost of renting payment infrastructure
When a company processes a payment through a card network, it pays fees on every transaction. Those fees are set by the networks and the banks that issue the cards. For large corporations, that adds up quickly. The Bastion CEO says the desire to stop paying those fees is a major driver behind the interest in stablecoins — digital tokens pegged to a government currency like the dollar.
Stablecoins let businesses move money directly between parties without going through a card network. That can lower costs and speed up settlement. The CEO's comments point to a broader shift: companies don't just want cheaper payments, they want to own the rails those payments run on.
Why stablecoins are getting a second look
Stablecoins have been around for years, mostly used by crypto traders. But as the technology has matured and regulators have started to pay closer attention, more mainstream businesses are considering them. The idea is simple: instead of renting access to Visa or Mastercard's network, a company could issue its own stablecoin or use an existing one to handle payments internally or with partners.
That doesn't mean card networks disappear overnight. They still have massive reach, brand recognition, and consumer trust. But the CEO's point is that the incentive to switch is growing, especially for large companies with millions of transactions.
What card networks stand to lose
Visa and Mastercard earn a cut on nearly every card transaction. If major companies move even a portion of their payment volume to stablecoins, that revenue stream could shrink. The threat isn't immediate, but it's real. The Bastion CEO's remarks suggest that the pressure is coming from the top — the biggest corporate customers are the ones most likely to build their own systems.
Lower costs for businesses could also mean lower prices for consumers, though that's not guaranteed. What is clear is that the economics of payments are shifting. Companies that once accepted card network fees as a cost of doing business are now asking whether they can do better.
Stablecoins still face hurdles. Regulation is patchy, and some policymakers worry about money laundering and financial stability. But the direction of travel seems set. The Bastion CEO's comments add to a growing chorus of voices arguing that the payment industry is due for disruption.
For now, the question is how quickly major companies will act. Some are already experimenting with stablecoins for cross-border payments and treasury management. Others are watching to see how regulators respond. The next few years will determine whether stablecoins become a real alternative to card networks or remain a niche tool for crypto natives. Either way, the CEO's message is clear: businesses want to own their payment rails, not rent them.
