#MastercardStablecoinCards Mastercard has partnered with the cryptocurrency payment infrastructure company Moonpay to enable users to make transactions using stablecoins.
The integration will allow Mastercard credit and debit cardholders to settle payments with selected digital assets, further expanding the company’s involvement in blockchain-based financial services.
Details
In announcing the development in a press release, Mastercard stated that fintechs incorporating the company’s infrastructure will be able to provide Mastercard-issued cards linked to the user’s stablecoin wallet.
Iron, a stablecoin infrastructure provider recently acquired by Moonpay, is crucial to this partnership, the company added.
Mastercard will integrate Iron’s application programming interfaces (APIs), designed to connect stablecoins to existing payment systems.
Additionally, Iron’s APIs will allow Mastercard to access millions of stablecoin wallets across various exchanges that use Moonpay’s infrastructure.
The company expects the feature to be available at all establishments worldwide that accept its credit and debit cards.
Key Quotes
Mastercard’s Executive Vice President of Global Partnerships, Scott Abrahams, said:
By providing solutions that unlock the utility and ubiquity of stablecoins, we are redefining how money circulates globally and driving a shift in payments as we know them. Together with MoonPay, we are building innovative and secure connectivity between cryptocurrencies and traditional financial ecosystems, based on trust and driven by scale.
