Mastercard is making a major move to bridge the gap between traditional finance and digital currencies.
In a new initiative announced Monday, the payments giant revealed plans to allow consumers to spend stablecoins as easily as cash, integrating stablecoin payments across its vast global merchant network.
The company’s new platform, Mastercard Move, will let users earn rewards, pay for purchases, and withdraw stablecoins directly into their bank accounts. Traditional Mastercard cards linked to crypto wallets will be usable at over 150 million merchant locations worldwide.
Mastercard isn’t tackling this alone. It’s teaming up with crypto exchange OKX to issue a new card and is collaborating with stablecoin heavyweights Circle and Paxos to ensure merchants can accept stablecoin payments. Circle, which issues the widely used USDC token, is among the key partners enabling this shift.
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The move comes as U.S. lawmakers debate new stablecoin regulations, with banks gearing up for broader stablecoin adoption in the financial sector. Mastercard’s latest partnerships build on its growing track record in crypto, having previously worked with firms like MetaMask, Baanx, Ledger, and Argent.
Jorn Lambert, Mastercard’s Chief Product Officer, emphasized that stablecoins could significantly simplify payment systems and reshape commerce. “The value stablecoins bring to everyday payments is becoming increasingly clear,” Lambert said.
As traditional finance giants dive deeper into blockchain integration, Mastercard’s strategy signals a future where stablecoins could be just as common in daily transactions as traditional currencies.
Alexander Stefanov
