Mastercard Expands Stablecoin Payment Support Through New Blockchain Partnerships

Key Takeaways:

• Mastercard will allow merchants to accept payments in stablecoins such as USDC.
• The company has teamed up with OKX, Nuvei, Circle and others to launch a full 360-degree stablecoin payment ecosystem.
• Mastercard’s Crypto Credential and Multi-Token Network aim to simplify crypto payments and real-world asset settlement.

Mastercard Advances Stablecoin Payments for Global Commerce

Mastercard has now fully embraced stablecoin payments, a development that represents a significant step toward integrating cryptocurrencies with mainstream financial services. Partnering with major industry players like OKX, Nuvei, Circle, and Paxos, Mastercard is building a frictionless infrastructure where consumers can spend stablecoins wherever Mastercard is accepted, and merchants can easily receive stablecoin payments.

Announced on April 28, 2025, the project provides a complete 360-degree stablecoin ecosystem including wallet integration, card issuance, merchant settlement, and cross-border remittance.

Jorn Lambert, Mastercard’s Chief Product Officer, said unlocking the potential for stablecoins is necessary to offer people and businesses freedom and choice they deserve in how to pay, as well as to help shape the future of money.

OKX Partners with Nuvei to Enable New Payment Method via Stablecoins

The OKX Card is a major highlight of the initiative, coming as part of Mastercard’s collaboration with crypto exchange OKX. The card natively connects OKX’s Web3 and trading technology infrastructure directly to Mastercard’s vast network of merchants, enabling users to spend value they hold in stablecoin assets in their wallets at over 150 million merchant locations around the world.

Following OKX, Mastercard’s partnership with Nuvei and Circle will also enable merchants to receive payment settlements in stablecoins, such as USDC, regardless of the payment method used by customers. With the model, companies have new flexibility and reduced reliance on traditional banking systems.

Simplifying Stablecoin Usage for Consumers

It is also about to get easier for you to spend stablecoin. Mastercard’s support for services such as MetaMask, Kraken, Gemini, Bybit, Crypto.com, and Binance allows rewards, payments and spends with traditional cards in stablecoin.

Users will also be able to withdraw stablecoins to a bank account directly, a long-standing barrier between crypto assets and fiat systems.

According to Ale Machado, Product Lead in MetaMask Card, we have partnered with Mastercard to give the users an easy connection to the Web3 economy that keeps you self-custodial and in control.

Improving Remittance and Real-Time Settlements

Mastercard has introduced a crypto-based alternative to traditional cross-border payment systems. The solution eradicates the need to use long and complex wallet addresses and instead replaces them with short and verified usernames, so users of platforms like Coin.ph and Mercado Bitcoin can carry out digital asset transactions more securely.

In addition, the Multi-Token Network (MTN) links deposit accounts to tokenized assets, making options available to partners, like Ondo Finance, to gain access to real-world tokenized instruments. The MTN, which is already being backed by financial heavyweights such as JPMorgan Chase and Standard Chartered, is expected to transform real-time settlement across currencies and markets.

Challenges and Future Prospects of Market

Despite strong momentum, Mastercard still faces challenges in achieving widespread adoption of stablecoin settlements. Merchants are still wary of stablecoins for fear of fraud, regulatory uncertainty and the technical barriers of integrating new systems into existing payment flows.

The potential of stablecoin payments is growing in recognition, wrote PYMNTS in a report earlier this year, but mainstream adoption will be heavily reliant on a simple and easy user interface. And consumers, the law says, are unlikely to change settled habits unless a new system isn’t just better, but easier.

Even so, Mastercard’s aggressive approach is a sign that the company is decidedly bullish on the potential for stablecoins to bridge the world of traditional finance and the new digital economy. To the extent to which regulatory regimes like the GENIUS Act will be replicated elsewhere, stablecoin payments may become a widespread feature of consumers’ day-to-day transactional experience.

The American firm’s latest moves show it isn’t just responding to the future of payments; it is actively shaping it.

More News: Mastercard Embarks on Multi-Token Network, Pursues “Venmo-Like” Crypto Experience

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