In May 2023, Mastercard launched a significant collaboration with MoonPay:

Global Stablecoin Payment Card (Stablecoin Card).

This card allows you to directly spend stablecoins like USDC at over 150 million merchants worldwide that accept Mastercard—no complicated withdrawal processes, no need to exchange for fiat currency, the assets on the blockchain are 'instantly' transformed into everyday spending power.

🔍 What is happening behind the scenes?

1. Mastercard vs Visa: The on-chain war between global payment giants.

Visa had previously attempted USDC settlement on the Solana blockchain, and now Mastercard has also made a move, partnering with MoonPay to expand compliant payment scenarios.

Traditional payment networks are starting to experiment with stablecoins as a new 'settlement currency.'