Mastercard has partnered with Circle and Paxos to enable stablecoin payments for merchants within its network. This collaboration, announced on April 28, allows 150 million merchants to accept stablecoin payments, enhancing the usability of cryptocurrencies in everyday transactions. Additionally, Mastercard has teamed up with OKX for a crypto-enabled bank card, further facilitating the integration of stablecoins into daily purchases. Mastercard's product chief, Jorn Lambert, emphasizes a commitment to simplifying the process for merchants and consumers alike, as stablecoin adoption grows. The stablecoin market has reached over $230 billion in value, with projections by Citigroup estimating it could rise to $3.7 trillion by 2030 due to increasing regulatory support. Concurrently, OKX's marketing chief describes the collaboration as a vital step toward making stablecoins a part of daily financial activities. This initiative marks Mastercard’s ongoing efforts to innovate in the crypto space, including previous collaborations with Binance and Crypto.com for crypto-enabled debit cards.

Source 🔗