EddieJayonCrypto
28 Apr 25
Mastercard announced new stablecoin payment features to allow consumers to spend stablecoins and merchants to receive them globally. Partnering with crypto and fintech firms like OKX, Nuvei, MetaMask, Kraken, Gemini, Bybit, Crypto.com, Binance, Monavate, and Bleap, Mastercard integrates stablecoins ...
Mastercard has launched new stablecoin payment support through strategic partnerships with leading crypto companies, allowing consumers to spend stablecoins and merchants to receive them globally.The initiative covers wallet enablement, card issuance, merchant settlement, and cross-border remittances integration. Collaborations with platforms such as MetaMask, Kraken, Gemini, Binance, and Bybit enable stablecoin spending at over 150 million merchant locations worldwide.In partnership with OKX, Mastercard introduced the OKX Card, granting users direct access to their crypto holdings and facilitating the integration of stablecoins into everyday transactions.Merchant settlement capabilities have expanded through alliances with Nuvei and Circle, permitting merchants to receive payments in stablecoins like USDC, regardless of the consumer's payment method. Paxos-issued stablecoins are supported similarly.To simplify cross-border stablecoin remittances, Mastercard introduced Crypto Credential, a system enabling transfers using usernames and enhancing transaction verification and transparency.Mastercard’s Multi-Token Network (MTN) supports real-time payments and connects deposit accounts to tokenized assets, attracting major financial institutions like JPMorgan and Standard Chartered to explore stablecoin applications.Mastercard’s chief product officer emphasized the company’s commitment to unlocking stablecoins’ potential to streamline commerce worldwide, reflecting a shift from stablecoins as trading instruments to practical payment solutions amid clearer regulations.