Mastercard has announced a partnership with Circle, Paxos, and payment processor Nuvei to expand support for payments in stablecoins, such as USDC, for its network of 150 million merchants. This was announced on April 28, 2025. Now customers will be able to pay with stablecoins regardless of the payment method, while sellers will receive funds in a convenient form.
Mastercard's product head Jorn Lambert noted: 'We see clear use cases for blockchain technology in widespread applications, and our task is to simplify the acceptance of stablecoins for merchants.' The company is also collaborating with the cryptocurrency exchange OKX to launch the OKX Card, which integrates stablecoins into everyday transactions. This creates a '360-degree approach' to digital payments.
The stablecoin market is growing: its capitalization has reached $230 billion, and Citigroup predicts growth to $3.7 trillion by 2030. Mastercard is also partnering with MetaMask, Kraken, Binance, and Crypto.com to expand the use cases for crypto cards. These initiatives reflect the company's commitment to integrating blockchain into traditional finance, ensuring the speed and security of transactions.
The partnership with Circle and Paxos highlights Mastercard's strategic move towards the global adoption of digital assets, making stablecoins a convenient tool for businesses and consumers.
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