Mastercard has partnered with Circle (issuer of USDC) and Paxos to enable merchants on its network to accept stablecoin payments. This initiative allows businesses to receive settlements in stablecoins regardless of the payment method used by customers, integrating these digital assets into traditional financial infrastructure.
Collaborations with Nuvei, Circle, and Paxos enable direct stablecoin payouts to merchants, supporting USDC and Paxos-issued stablecoins like USDP.
Over 150 million merchants accepting Mastercard can now opt to receive payments in stablecoins.
The move coincides with U.S. legislative progress, including the GENIUS Act, which aims to establish clear stablecoin regulations.
Mastercard is also launching the OKX Card in partnership with the crypto exchange, allowing users to spend stablecoins at traditional merchants while linking Web3 activities to Mastercard’s payment rails. The company’s "360-degree approach" includes wallet integration, card issuance, and cross-border remittance solutions.
This framework positions Mastercard to capitalize on the growing stablecoin market, which analysts like Citigroup forecast could reach $3.7 trillion by 2030.
By enabling stablecoin acceptance alongside traditional payment options, merchants gain flexibility to cater to crypto-savvy customers without operational overhauls.
The Mastercard-Circle-Paxos partnership will transform merchant payment receipt through streamlined stablecoin settlements, expanded payment method options, and enhanced global accessibility.
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