On May 16, 2025, Mastercard announced its collaboration with MoonPay to enable users and businesses to pay and receive payments using stablecoins across global markets. This collaboration allows businesses and financial institutions to use Mastercard cards linked to stablecoin balances, enabling cardholders to spend their stablecoins, which are simultaneously converted into fiat currency, at over 150 million locations where Mastercard is accepted worldwide.
MoonPay leverages its extensive network, which includes integrations with over 500 leading cryptocurrency platforms, including major wallets and exchanges, to provide shared access to over 100 million active cryptocurrency users. This unique position allows them to issue Mastercard-backed stablecoin cards across the global payment and commerce system.
Evan Soto Wright, CEO and co-founder of MoonPay, said: "MoonPay serves the largest cryptocurrency wallets in the industry, and with Mastercard, we are offering convenient and reliable stablecoin-backed cards to cryptocurrency users worldwide."
This collaboration will enable the management of new companies, banks, and other payment participants more efficiently, improving cross-border money transfers. It also allows businesses to offer stablecoin-based payments to workers in the informal economy, contractors, and creators.
This move comes as part of Mastercard's ongoing efforts to enhance the use of stablecoins in everyday transactions, reflecting the company's commitment to expanding the use of digital currencies in the global economy.