Mastercard expands global stablecoin payment capabilities

The initiative introduces end-to-end capabilities that aim to integrate stablecoins more directly into everyday payment flows, from digital wallets to merchant checkouts. 

The payments company is working with exchanges, wallet providers, and payment processors to facilitate stablecoin-based transactions for consumers and businesses. Through partnerships with firms including OKX, Nuvei, and Circle, Mastercard is introducing features that allow for both consumer spending and merchant settlement in stablecoins such as USDC.

Focus on integration and settlement

A noteworthy element of the initiative is enabling merchant settlement in stablecoins. Mastercard is partnering with payment processor Nuvei and issuer Circle to allow businesses to receive USDC regardless of the customer’s original payment method. Additional support for stablecoin settlement is being rolled out via integration with Paxos-issued assets. 

The company is also addressing cross-border remittances through its Mastercard Crypto Credential solution. This service uses verifiable aliases to simplify and secure the process of sending digital assets. 

OKX, a digital asset trading platform, is launching a Mastercard-branded card aimed at enabling users to spend stablecoins directly from their accounts. Officials from both companies stated that the collaboration is intended to connect stablecoin use with routine transactions, increasing utility for users of decentralised finance tools. 

Mastercard representatives highlighted that such developments are part of a general effort to connect crypto-native technologies to regulated financial systems. The company’s Multi-Token Network (MTN) is also being positioned to support tokenised asset use and real-time payments, with JPMorgan Chase and Standard Chartered among the banks currently linked to MTN. 

Card issuance and wallet integration have also been extended through arrangements with companies such as MetaMask, Kraken, Gemini, Crypto.com, and Binance. These partnerships enable users to spend from their stablecoin wallets via traditional card rails and to convert assets into fiat for withdrawal.