On April 28, Mastercard announced a strategic partnership with the OKX crypto exchange and Canadian payments processor Nuvei, introducing a transformative initiative that will enable a holistic approach to stablecoin transactions. This partnership aims to create an ecosystem where consumers can effortlessly spend stablecoins, while merchants can seamlessly receive them.
The firm described its new technology as having “global end-to-end stablecoin acceptance and payments capabilities,” citing an increase in regulatory clarity concerning stablecoins as a significant factor driving this initiative.
Mastercard’s comprehensive approach is bolstered by collaborations with major players in the crypto sector, including MetaMask, Kraken, Gemini, Bybit, Crypto.com, and Binance. This collaboration signifies a pivotal step in integrating stablecoins into the retail payment landscape.
Global Stablecoin Payments
Mastercard claims that users will soon be able to utilize stablecoins from their crypto wallets to make payments at over 150 million merchant locations worldwide that accept Mastercard. This capability marks a significant advancement in bridging traditional finance with the modern digital asset ecosystem.
On the merchant front, Mastercard is actively partnering with Nuvei and Circle to facilitate the acceptance of Circle’s USDC stablecoin, further diversifying options for businesses and enhancing their payment capabilities.
Today, we announced our end-to-end capabilities to support stablecoins, ensuring payments can be made or received using them – anytime, anywhere. Alongside proven leaders across Web3, finance and fintech, we’re empowering consumers and businesses to use stablecoins as easily as… pic.twitter.com/6uSpMlNK9z
— Mastercard News (@MastercardNews) April 28, 2025
The credit giant also introduced the Mastercard Multi-Token Network (MTN), designed to facilitate real-time payments and redemptions, allowing partners such as Ondo Finance to leverage on-chain tokenized assets. Notably, JPMorgan and Standard Chartered are already connected to MTN, illustrating a growing ecosystem.
“To realize its potential, we need to make it as easy for merchants to receive stablecoin payments and for consumers to use them,” stated Jorn Lambert, Chief Product Officer at Mastercard. He emphasized that unlocking the potential of stablecoins is central to navigating the rapidly evolving financial landscape.
Haider Rafique, Chief Marketing Officer at OKX, characterized the partnership with Mastercard as a testament to their commitment to enhancing digital finance’s accessibility and relevance in daily life.
Additionally, Mastercard launched a self-custodial crypto payments card in Europe back in September 2024, exemplifying its proactive approach in merging traditional and digital finance.
MetaMask Launches New Card
Simultaneously, on April 28, the decentralized crypto wallet MetaMask announced the launch of its new “Metal Payment Card,” created in collaboration with fintech firms CompoSecure and Baanx. This card, supported by Mastercard’s expansive network, allows users to directly spend from MetaMask self-custody wallets without the need to pre-load funds or convert crypto to fiat.
Transactions are verified through smart contracts in under five seconds and operate on the Linea network, secured by Ethereum. The card aims to dissolve barriers for crypto users, enabling them to engage with everyday finance more readily.
“For too long, crypto users have been locked out of everyday finance,” remarked Ale Machado, Product Manager at MetaMask. “The MetaMask Card changes that. It allows millions of users worldwide to finally bridge the gap between the blockchain and the real world without sacrificing control or security,” he elaborated.
Currently, there is a waitlist for the card, and its availability is limited to select countries.
The post Mastercard Announces End-to-End Stablecoin Payments System originally appeared on CryptoPotato.
