What You Need to Know

• Mastercard is enhancing its network to include a variety of stablecoins for daily transactions and international settlements.
• The company has partnered with Fiserv to facilitate FIUSD in card services and merchant settlements, and is joining the Global Dollar consortium behind the USDG stablecoin.
• These developments underscore the increasing institutional adoption of stablecoins as U.S. regulations progress.

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Mastercard is intensifying its focus on stablecoins through several partnerships and the expansion of its product offerings aimed at integrating regulated digital currencies within everyday payment networks. The firm announced on a Tuesday its plans to incorporate multiple stablecoins including PayPal’s PYUSD, Paxos’ Global Dollar (USDG), and Fiserv’s newly introduced FIUSD into its global framework, which also supports Circle’s USDC. Furthermore, stablecoin transactions will now be available for cross-border payments via Mastercard Move.

The company is also collaborating with financial technology provider Fiserv to enable FIUSD support in its card offerings, allowing users to manage both fiat and stablecoin balances through its Mastercard One Credential interface.

These initiatives highlight a significant trend among global banks and payment providers rushing to integrate stablecoins—digital currencies pegged to real-world assets—into their services. With a market size of $260 billion and a rapidly growing asset class, stablecoins promise faster and cheaper transactions compared to traditional banking methods. The introduction of these services coincides with the recent passage of the GENIUS Act aimed at regulating the stablecoin sector by the U.S. Senate.

“We expect that consumers and businesses will continue to use fiat currency with their Mastercard cards for most transactions,” remarked Jorn Lambert, Mastercard’s Chief Product Officer. “Yet, regulated stablecoins are clearly evolving in the digital payments landscape.”

These initiatives could allow financial institutions and enterprises to create, redeem, and settle transactions utilizing specific stablecoins, as consumers may adopt them similarly to conventional currencies for payments and transfers across Mastercard’s 150 million merchant locations.

The integration of stablecoins complements existing digital offerings from Mastercard, including partnerships with cryptocurrency firms that enable users to use their crypto for merchant settlements and tokenized bank deposits.

Future developments aim to enable programmable payments through Mastercard’s Multi-Token Network.