Mastercard Deepens Involvement in Crypto Space
Mastercard is deepening its involvement in the crypto space with a new global initiative that will allow users to spend stablecoins as easily as fiat. The payments giant has teamed up with MoonPay to develop a stablecoin-backed card system, transforming how digital assets can be used for everyday purchases.
The service will operate through Iron, a payments infrastructure provider recently acquired by MoonPay, ensuring that stablecoin transactions are instantly converted into local currencies during checkout. This gives crypto holders a familiar spending experience while using blockchain-based assets behind the scenes.
While stablecoins continue gaining ground due to their fiat pegs and low volatility, regulators remain cautious. The U.S. SEC has offered partial guidance but left ambiguity around interest-bearing and algorithmic tokens. Still, Mastercard’s latest move shows that traditional finance isn’t waiting for full legal clarity before pushing forward.
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This new rollout isn’t Mastercard’s first foray into digital currency payments. It follows an earlier initiative with OKX and Nuvei to build a crypto-friendly payment ecosystem, and a separate launch with Mercuryo in Europe, where a virtual Mastercard lets users spend crypto at over 90 million merchants.
Meanwhile, competitor Visa is also moving quickly. Its recent stablecoin pilot in Latin America spans six countries, with plans to expand into other global markets soon. As both networks race to modernize payments with blockchain infrastructure, stablecoins are quietly transitioning from trading tools into mainstream financial instruments.
Alexander Stefanov
