A prediction made more than a decade ago about the close relationship between Bitcoin startups and traditional payment companies is becoming increasingly similar to the payments market in 2026.
Summary
- A 2014 prediction about traditional payment firms partnering with Bitcoin startups according to today’s market.
- Visa and MasterCard now work directly with crypto firms on cards, settlements, stablecoins, and payments.
- BitPay continues to expand regulated crypto payment services more than a decade after joining the payment industry.
Former Electronic Transactions Association CEO Jason Oxman discussed the possibility in an August 2014 interview with CoinDesk. His comments followed BitPay becoming the first digital currency company to join the payments trading group. Oxman said the organization will remain open to new payment technologies without officially supporting Bitcoin in other systems.
Bitcoin’s early collaboration points to broader change
Oxman argued that payment companies are ultimately responding to how consumers and merchants choose to act. He said the industry was “in the business of facilitating electronic transactions,” regardless of the technology that carries those payments.
The comments come at an early stage of commercial Bitcoin adoption, when regulators are still opposed to New York’s proposed BitLicense. Oxman also cautioned regulators against imposing regulations simply because the technology is new, while acknowledging that consumer protection remains a valid concern.
The leadership of ETA has changed. Jodie Kelley became the organization’s CEO in 2019, and ETA now operates a dedicated Digital Assets committee and its other payment industry teams.
Visa and Mastercard form a crypto-specific partnership
The type of partnership Oxman discussed has become common throughout the payments industry. Visa and Stripe-owned Bridge announced plans in March to expand stablecoin-linked Visa cards to more than 100 countries by the end of 2026. As reported by crypto.news, the cards allow users to spend stablecoin balances across Visa’s merchant network.
Visa has also expanded its stablecoin payment pilot to nine blockchains. The company said in April that the program has reached $7 billion a year. Visa said the expansion gives payment partners more choice when choosing blockchain networks.
MasterCard followed a similar path. Its Crypto Partner Program brings together more than 100 crypto companies, financial institutions and payment providers. As reported by crypto.news, Alchemy Pay joined this initiative in May to explore closer links between fiat payments and onchain trading.
Stablecoins are now leading the way in increasing payments
The industry’s focus has also shifted from Bitcoin alone to stablecoins. Visa, Mastercard and Coinbase recently joined more than 140 companies supporting Open Standard, the group developing the Open USD stablecoin.
As reported by crypto.news, the project plans to create a payment infrastructure for businesses using digital assets linked to dollars. This move puts major card networks right alongside crypto-native companies in developing block payment systems.
BitPay also continued to grow. Crypto.news recently reported that the payment company received MiCA approval in the Netherlands, allowing it to offer regulated crypto and stablecoin services in all eligible markets of the European Union.
More than a decade after Oxman predicted increased cooperation, the relationship between traditional payment networks and crypto companies has moved from isolated checks to cards, settlement systems, stablecoins and cross-border payments.
