Each wave of payments innovation has reaffirmed a simple truth: Consumers and merchants adopt solutions that are convenient, secure and dependable. 

We don’t see stablecoins disrupting this dynamic — in fact, they reinforce it. Stablecoins hold tremendous promise but should be held to that same simple but high standard. There’s still work to be done to fully realize their promise. 

That’s why we’re bringing our expertise, unparalleled network, state-of-the art services and leading partnerships to bear to integrate stablecoins into the financial mainstream with a vision of making them as seamless and ubiquitous as traditional forms of payment. 

Mastercard has recognized the potential of stablecoins for years. Today, we already enable millions of people to spend their stablecoin balances at over 150 million Mastercard merchant locations worldwide, thanks to partnerships with crypto pioneers like MetaMask, Crypto.com, OKX and Kraken. Every transaction is protected by fraud safeguards, purchase protections and chargeback rights — delivering a seamless, secure experience. 

And we’re not just enabling stablecoin spending — we’re expanding how over 3.5 billion Mastercard cards in circulation can securely engage with crypto. Major exchanges such as Binance, Bybit and Coinbase accept Mastercard for crypto purchases. Merchants, gig workers and creators can also choose to receive their payouts in the stablecoin of their choice — regardless of the currency used at checkout.

We do this because stablecoins alone do not offer the global acceptance, security, reliability, consumer protections and scale that have made card payments trusted and preferred by billions. Mastercard plays a unique role in bridging that gap, working across crypto and financial ecosystems to unlock this potential. 

Stablecoins are already helping solve real-world challenges — albeit at more limited scale: reducing time and costs for cross-border remittances, enabling near-instant payouts for families, transforming how content creators and gig workers get paid, and powering programmable B2B transactions. We’re excited to take this to the next level, enabling a rich and vibrant innovation ecosystem across our global network.

Today, we are announcing new capabilities and partnerships that reflect this vision — supporting multiple stablecoins on our network, scaling transformative use cases and embedding deep layers of security and compliance. 

Mastercard is bringing the power of its global franchise to support a growing portfolio of regulated stablecoins from issuers around the world. In doing so, we’re ensuring that registered and compliant stablecoins are enabled across our network for consumers and businesses to use. 

New capabilities include:

• USDG via Paxos: Deepening our differentiated work with Paxos, Mastercard will join Global Dollar Network as a key partner, allowing Paxos to enable any Mastercard institution to mint, distribute and redeem USDG to their customers.

• FIUSD via Fiserv: We’re aiming to integrate FIUSD across Mastercard products and services, including on/off-ramping, merchant settlement, and stablecoin-powered card issuance.

• PYUSD via PayPal: Building on our longstanding partnership, PayPal and Mastercard are working together to drive future network settlement capabilities with PYUSD.

• Ongoing support for USDC issued by Circle: Our continued support of USDC lends itself to more integrations as the ecosystem evolves.

This multi-coin approach ensures flexibility, reach and readiness for the next wave of digital currency innovation.

Stablecoins are already solving real-world problems — and Mastercard is scaling their utility across key flows.

• Cross-border payments: Through Mastercard Move, we will enable financial institutions and wallets to send and receive stablecoin flows seamlessly.

• Mastercard One Credential: We’re introducing Mastercard One Credential to the digital asset space, offering consumers a flexible way to spend both fiat and stablecoin balances through a single product — exploring with Fiserv as a first adopter.

• Enabling B2B use cases: The Mastercard Multi-Token Network (MTN) is built to power programmable payments and stablecoin settlement for digital assets and B2B applications, solving a range of pain-points for the multi-trillion dollar industry. Fiserv’s Digital Asset Platform, powered by Finxact, plans to leverage the Mastercard MTN to bring off-the-shelf support for programmable, on-chain commerce for banks. 

These use cases continue to grow and prove their value to consumers, businesses, and developers alike. 

Trust is essential to scale – and we’re investing and applying our proven security and compliance expertise to stablecoins. 

• Crypto Secure: Combines Mastercard’s cyber and fraud capabilities to help partners assess risk and ensure safe transactions.

• Mastercard Crypto Credential: Enhances safety and compliance for both crypto and fiat-based remittances, supporting secure end-to-end fund transfers.

• Principled governance: Every stablecoin that will be enabled on our network will be registered and governed by Mastercard’s rigorous review practices, ensuring that compliance, security and other standards are met.

We’re not just enabling stablecoin transactions — we’re helping to make them safe, compliant and built to last. Importantly, we’re providing a scalable platform for partners to innovate.

We expect that consumers and businesses will continue to use fiat currency with their Mastercard cards for most use cases — it just works. But regulated stablecoins are undoubtedly part of the evolution of digital payments. At Mastercard, we’re not waiting for the future — we’re building it. From tokenized deposits to programmable money, we’re investing in the infrastructure, interfaces, partnerships and protections that will define the next generation of payments.

Because when innovation is done right, it doesn’t just work — it works everywhere.