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Mastercard collaborates with Circle to enable settlement in stablecoins USDC and EURC in the Middle East

Mastercard has announced the expansion of its partnership with Circle to enable transaction settlements using the USDC and EURC stablecoins in Eastern Europe, the Middle East, and Africa. This step marks the first time that transaction settlements in stablecoins will be available in these markets, enhancing the connection of blockchain-based assets to traditional trade infrastructure.

This initiative will allow acquiring institutions to settle in stablecoins issued by Circle, providing them with greater liquidity and higher operational efficiency, and helping to reduce the friction associated with traditional payments. This move complements the previous efforts of Mastercard and Circle in the region through cryptocurrency card solutions based on USDC.

Arab Financial Services (AFS) and Eazy Financial Services will be the first beneficiaries of this expansion, representing a model for securely and reliably integrating digital asset solutions into daily payments.

Mastercard confirmed that this step is part of its global strategy to integrate stablecoins into the traditional financial system through investment in infrastructure and partnerships, with a commitment to the highest standards of security and compliance.

Source: Mastercard.