A new set of capabilities has been launched by Mastercard to support end-to-end stablecoin payments, the company revealed Monday.
Mastercard Unveils New Capabilities to Power Stablecoin Transactions
The global payments giant said it is aiming to bring digital currencies into the mainstream by enabling transactions from wallets to checkouts.
The initiative is part of Mastercard’s broader strategy to integrate blockchain-based assets into traditional finance.
The company has partnered with OKX and Nuvei to support stablecoin transactions across its network, allowing consumers to spend and merchants to receive stablecoins like USDC.
“To realise its potential, we need to make it as easy for merchants to receive stablecoin payments and for consumers to use them,” said Jorn Lambert, Mastercard’s Chief Product Officer. “We believe in the potential of stablecoins to streamline payments and commerce across the value chain.”
Mastercard is collaborating with crypto-native firms such as MetaMask, Kraken, Crypto.com, and Binance to allow users to spend stablecoins via traditional cards at over 150 million merchants globally.
In partnership with OKX, it will launch the OKX Card, providing users with greater access to digital assets.
On the merchant side, Mastercard is teaming up with Nuvei and Circle to enable businesses to receive stablecoin settlements. Paxos is also said to be supporting the infrastructure to broaden merchant accessibility.
The company’s Crypto Credential system aims to simplify and secure on-chain remittances, and its Multi-Token Network is said to be already being utilised by major institutions, including JPMorgan Chase and Standard Chartered.
