Mastercard is enhancing its commitment to stablecoins by partnering with MoonPay, enabling individuals and businesses to utilize stablecoins for payments in global markets.
Enterprises and fintechs will have access to Mastercard-branded cards linked to users’ stablecoin balances, allowing cardholders to spend their stablecoins, which will be converted to fiat currency at over 150 million locations worldwide where Mastercard is accepted.
This partnership employs API-driven stablecoin infrastructure from Iron, acquired by MoonPay in March, to streamline payments for businesses and convert crypto wallets into digital bank accounts for seamless global transactions. The collaboration aims to help businesses, neobanks, and payment participants more efficiently manage payouts and disbursements, enhancing cross-border money transfers. It also enables stablecoin-based payouts for gig workers, contractors, and creators.
“By providing solutions that unlock stablecoin utility and ubiquity, we are redefining how money moves globally and driving a shift in payments as we know it,” states Scott Abrahams, EVP of global partnerships at Mastercard. “Together with MoonPay, we’re building innovative and secure connectivity between crypto and mainstream finance ecosystems, grounded by trust and driven by scale.”
With growing global regulatory clarity, Mastercard believes stablecoins are transitioning from mere crypto trading tools to viable options for improving payment efficiency, disbursements, and remittances. This agreement follows the announcement of Mastercard’s integrated 360-degree approach, allowing consumers and businesses to use stablecoins as effortlessly as their bank funds.