Mastercard Incorporated MA announced on Thursday that it is partnering with crypto infrastructure company MoonPay to launch stablecoin-based payment solutions for global use. The company said the collaboration aims to bridge traditional finance with the crypto economy.
The partnership allows fintechs and enterprises to issue Mastercard-branded cards linked to stablecoin balances.
These cards will automatically convert stablecoins into fiat currency, making them usable at more than 150 million merchant locations worldwide.
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MoonPay will utilize API technology from Iron, a company it recently acquired, to support these transactions.
The system will transform crypto wallets into functional digital accounts, streamlining international payments and enabling faster, more efficient disbursements, particularly for freelancers, gig workers, and digital creators.
Combining Mastercard’s extensive payment infrastructure with MoonPay’s crypto user base of over 100 million, the initiative seeks to expand stablecoin adoption.
With around 20 million wallets transacting in stablecoins monthly and 120 million holding such assets, the demand for spendable digital currencies is rising.
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Scott Abrahams, Mastercard’s executive vice president of Global Partnerships, stated that the goal is to “unlock stablecoin utility and ubiquity” and reshape how cross-border payments operate.
Ivan Soto-Wright, MoonPay’s CEO, highlighted that the partnership will bring “trusted stablecoin-enabled cards” to the global crypto community.
By enabling real-time conversion of crypto to fiat, the initiative is a major step in integrating digital assets into mainstream finance.
According to Benzinga Pro, MA stock has gained over 26% in the past year. Investors can gain exposure to the stock via iShares Long-Term U.S. Equity Active ETF BELT.
Price Action: MA shares are trading higher by 1.29% to $580.68 at last check on Thursday.
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