Mastercard has established a strategic partnership with MoonPay to introduce global payment cards based on stablecoins. Thanks to this initiative, users can utilize cryptocurrencies such as USDC, USDT, or DAI for everyday purchases at over 150 million Mastercard acceptance points worldwide.
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🔑 Key Information
Instant Conversion: During transactions, funds in stablecoins are automatically converted to local currency, allowing for seamless purchases without additional steps for the user.
Support for Cryptocurrency Wallets: Users of applications like MetaMask, Kraken, or OKX can receive virtual Mastercard cards linked directly to their cryptocurrency wallets.
Iron Technology: MoonPay utilizes the Iron infrastructure, acquired in March 2024, to ensure smooth conversions of stablecoins to fiat currencies in real-time.
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🌍 Significance for Users and Businesses
This initiative aims to bridge the world of cryptocurrencies with traditional payment systems, enabling:
Fast and Cheap International Transfers: Stablecoins can be used to send funds abroad with minimal fees and delays.
Support for Individuals Without Access to Traditional Banking Services: In regions with limited access to banking, stablecoin cards can serve as an alternative to traditional bank accounts.
Integration with Existing Payment Infrastructure: Businesses can accept payments in stablecoins without the need to change their current systems.
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📺 See More
To learn more about this collaboration, watch the video below:
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The introduction of stablecoin-based payment cards by Mastercard and MoonPay is a significant step towards integrating cryptocurrencies into everyday financial life. This allows users to enjoy the benefits of digital assets in a simple and intuitive way.
