Mastercard Expands Its Stablecoin Acceptance and Payment Capabilities to New Markets

Mastercard is announcing new, global capabilities for accepting and making payments in stablecoins, powered by Circle’s Paymaster technology, which will allow consumers and businesses to use stablecoins as easily as the money in their bank accounts.

To allow consumers and businesses to use stablecoins as easily and seamlessly as they use the money in their bank accounts today, Mastercard is taking a 360-degree approach. Mastercard will be working with a select group of partners to launch various use cases and programs. These partners include:

* OKX, a leading cryptocurrency exchange, will be launching the OKX Card with Mastercard in the coming months. The card will allow users to spend stablecoins at any Mastercard merchant around the world, both online and offline. It will also be issued by Nuvei, a leading payment technology company, and powered by Circle’s Paymaster technology.

* Nuvei will be providing its advanced payment technology to enable seamless integration and processing of stablecoin payments for Mastercard.

* Circle, a leading financial technology company, will be providing its Paymaster technology to power the stablecoin payments and treasury services for Mastercard.

* Consensys, the creator of MetaMask, will be connecting the Mastercard network with MetaMask’s decentralized protocols and widgets to enable consumers to use their preferred crypto wallets for seamless payments.

* Kraken, a leading cryptocurrency exchange, will be providing its expertise in cryptocurrency trading and liquidity management to support Mastercard’s new stablecoin payments and acceptance capabilities.

“When it comes to blockchain and digital assets, the benefits for mainstream use cases are clear. To realize its potential, we need to make it as easy for merchants to receive stablecoin payments and for consumers to use them,” said Jorn Lambert, chief product officer at Mastercard. “We believe in the potential of stablecoins to streamline payments and commerce across the value chain. Unlocking this is core to how we navigate the rapidly changing world, giving people and businesses the freedom they want by providing the choices they deserve.”

“OKX is pushing the boundaries of what’s possible in the world of digital assets. Our strategic partnership with Mastercard to launch the OKX Card showcases our commitment to making digital finance more accessible, practical, and relevant to everyday life,” said Haider Rafique, managing partner and chief marketing officer, OKX. “Together, we’re taking a significant step toward integrating stablecoins into daily transactions and creating richer experiences—while bringing new users on-chain through OKX’s leadership in crypto trading and our growing Web3 ecosystem.”

“At Nuvei, our priority is delivering secure and efficient payment solutions that meet the highest standards. By partnering with Mastercard and Circle, we’re able to leverage cutting-edge technologies to enhance how merchants handle payments and settlements in today’s interconnected world,” said Phil Fayer, chief executive officer, Nuvei. “These collaborations allow us to offer truly innovative solutions that bridge traditional and digital finance, ultimately helping our merchants grow and thrive in today’s rapidly evolving global market.”

“At MetaMask, we’re committed to empowering users with seamless access to the Web3 economy, without compromise on self-custody or choice. Our collaboration with Mastercard will allow people to stay engaged in decentralized protocols and stablecoins—right up to the moment they choose to spend and use their preferred crypto wallets for seamless payments,” said Ale Machado, product lead, MetaMask Card at Consensys.

“Crypto is rapidly becoming the future of everyday payments. At Kraken, we’re focused on accelerating that shift—and collaborating with partners like Mastercard is key to unlocking crypto’s real-world utility at global scale,” said Mark Greenberg, Kraken’s global head of consumer business and product.

Later this year, Mastercard will be piloting new stablecoin acceptance capabilities with a select group of merchants. These capabilities will allow merchants to receive payments from consumers in stablecoins, which can then be credited to the merchant’s bank account. Mastercard is also working with a number of partners to develop new stablecoin payment cards for consumers. These cards will allow consumers to use their stablecoins to make purchases at any Mastercard merchant around the world, both online and offline.

In addition to its new stablecoin acceptance and payments capabilities, Mastercard is also investing in a number of other technologies that will support the future of Web3, including blockchain, tokenization, and the metaverse. The company is committed to playing a leading role in shaping the future of the digital economy.