Mastercard Unlocks Potential of Stablecoins as Payment Method

Payment giant Mastercard launched a platform for stablecoin transactions. The goal of the project is to make stable assets accessible for everyday use and to unlock their potential as a convenient payment tool.

International payment system Mastercard announced the launch of a platform supporting stablecoin operations. This solution will allow consumers and businesses to freely send and receive stablecoin payments worldwide while maintaining integration with the traditional financial system.

The initiative aims to make stable assets a convenient payment method for daily use. Key features of the new solution include:

• the ability to use stablecoins via Mastercard-supported cards at more than 150 million merchants worldwide, thanks to partnerships with crypto companies such as MetaMask, Kraken , Gemini, Bybit , Crypto.com , Binance, and others;
• the issuance of a crypto card in collaboration with OKX, making access to digital assets easier and strengthening user engagement with Mastercard in the Web3 ecosystem;
• enabling merchants to receive stablecoin payments regardless of the customer’s payment method, through partnerships with Nuvei and Circle;
• use of verified user names to simplify digital asset transfers via the Mastercard Crypto Credential solution, already adopted by companies like Wirex, Bit2Me, Lirium, Notabene, Coins.ph, and Mercado Bitcoin;
• instant settlement of tokenized assets through the Mastercard Multi-Token Network (MTN), enabled by partnerships with Ondo Finance, JPMorgan Chase , and Standard Chartered .

According to Jorn Lambert, Chief Product Officer at Mastercard, the company sees great potential in stablecoins for optimizing payments and commercial activity. “We need to make it as easy for merchants to receive stablecoin payments and for consumers to use them. Unlocking this is core to how we navigate the rapidly changing world, giving people and businesses the freedom they want by providing the choices they deserve,” Lambert emphasized.