In May 2023, Mastercard and MoonPay jointly launched a significant collaboration:

Global Stablecoin Payment Card.

This card allows you to make direct purchases using stablecoins like USDC at over 150 million merchants worldwide that accept Mastercard—no complicated withdrawals or currency exchanges required, allowing on-chain assets to be instantly converted into everyday spending power.

🔍 What happened behind the scenes?

1. Mastercard vs Visa: The on-chain battle of global payment giants.

Visa had previously attempted USDC settlement on the Solana chain, and now Mastercard is also making moves, teaming up with MoonPay to expand compliant payment scenarios.

Traditional payment networks are testing stablecoins as a new 'settlement currency.'