Mastercard Brings On-Chain Payments to 150M Merchants

Mastercard is rolling out a full-scale platform designed to handle stablecoin payments. Crypto holders will soon be able to spend their assets as easily as cash, while merchants can accept them without friction.

The payment giant has forged partnerships with leading crypto exchanges and fintech firms to weave stablecoins into routine financial operations. By teaming up with digital asset issuers and blockchain platforms, Mastercard is moving to make stablecoins as user-friendly and reliable as traditional bank funds.

Mastercard’s 360° Crypto Integration

Mastercard has orchestrated a multi-layered crypto infrastructure by connecting card services to OKX and top Web3 platforms such as MetaMask, Kraken, Binance, and Crypto.com.

• With the OKX Card, users can make payments in stablecoins straight from their blockchain wallet.
• Mastercard Move handles real-time conversion of digital tokens into fiat.

Check this out: Living with Stablecoins: The Use Cases Explained

Through strategic collaborations with Circle and Nuvei, Mastercard enables merchants to accept USDC and Paxos-based payments with zero friction.

With Mastercard Crypto Credential, the company is taking a practical step toward on-chain usability. By enabling transfers via named identifiers, it streamlines crypto transactions for users on Wirex, Bit2Me, and other platforms.

You may also like: Circle Unveils CPN to Streamline Global Payments With USDC and EURC

The announcement follows the rollout of Mastercard’s Multi-Token Network (MTN), designed for instant settlement and token redemption. Key partners onboard include:

• JPMorgan Chase, 
• Standard Chartered, 
• Ondo Finance (which underlines Mastercard’s push to merge digital assets with deposit-based infrastructure.)

Stablecoin Markets: Growth and Future Prospects

• USD-backed stablecoins now account for a supply exceeding $230 billion.
• In H1 2024, they powered more than $5.1 trillion in transactions, according to Bitwise.
• The market could hit $3.7 trillion by 2030, thanks to regulatory momentum and rising institutional interest, forecasts Citigroup.

In both the U.S. and Europe, evolving regulations are boosting bank confidence. U.S. lawmakers are considering stablecoin bills that could define issuer obligations and regulatory status, potentially opening the floodgates for widespread banking sector involvement.

Read on: EU Clash: ECB and European Commission at Odds Over Dollar-Pegged Stablecoins