Mastercard joined the USDG stablecoin network
Launched in November 2024 by the crypto company Paxos in partnership with six other participants, the Global Dollar Network stablecoin consortium allows members to mint, that is, create, their own stablecoin pegged to the US dollar. The payment system Mastercard, following Visa's footsteps, has begun to actively expand its support for stablecoins. Mastercard will join Paxos' global dollar network, enabling support for the USDG, USDC, PYUSD, FIUSD stablecoins within its network, as well as launch new capabilities through Mastercard Move and Mastercard Multi-Token Network.
Additionally, Mastercard will add stablecoins to its international payment and transfer network called Mastercard Move, which includes clients like MoneyGram.
Mastercard has also announced that it is adding support for PYUSD (the token from PayPal) and FIUSD — the recently launched stablecoin from banking technology provider Fiserv. Mastercard already supports USDC, a stablecoin from Circle.
The international payment system and Chainlink (LINK) have formed a partnership that will allow Mastercard cardholders to buy cryptocurrency directly on the network.
Source: Mastercard