According to a new survey by Fireblocks, Latin America leads all regions in the actual use of stablecoins: 71% of respondents stated that they use this technology for cross-border payments.
Analyzing the situation, Mastercard is expanding its presence in the cryptocurrency space through a new global initiative that will allow users to spend stablecoins as easily as fiat money.
More than 150 million merchant locations connected to Mastercard have gained access to accepting payments in stablecoins, including USD Coin (USDC) from Circle and Pax Dollar (USDP) from Paxos.
The payment giant has teamed up with MoonPay to develop a system of stablecoin-backed cards.
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