Mastercard Introduces Global Stablecoin Payment Infrastructure

Mastercard has introduced a suite of services to support stablecoin use across its global payments network, backed by partnerships with firms such as OKX, Nuvei, Circle, MetaMask, Kraken, and others.

The initiative includes wallet integration, card issuance, merchant acceptance, and settlement tools—designed to support both consumers and businesses in sending, receiving, and spending stablecoins.

Consumers will be able to spend stablecoins at traditional merchants using Mastercard-linked cards, whilst participating businesses can opt to receive settlements in $USDC or other supported stablecoins.

How is this being implemented?

To support stablecoin transactions at scale, Mastercard is deploying its Crypto Credential system—a verification layer that enables blockchain addresses to be linked to verified user identities. This system allows users in supported regions to send and receive digital assets using usernames rather than long wallet addresses, improving usability and reducing error risk.

The company is also developing its Multi-Token Network (MTN), a platform designed to support real-time settlement of tokenised assets. Financial institutions including JPMorgan Chase and Standard Chartered are participating in MTN pilots, which aim to bridge conventional bank accounts with on-chain payment flows.

These infrastructure efforts suggest Mastercard is looking beyond card-based payments to broader digital asset integration across banking and settlement systems.

Why is this significant?

Mastercard’s entry into stablecoin infrastructure signals a notable step in the integration of digital assets into everyday financial systems. Whilst stablecoins have been widely used in cryptocurrency markets for trading and hedging, their uptake in retail or commercial payments has remained limited due to technical, regulatory, and usability barriers.

By enabling direct settlement in stablecoins and providing infrastructure for both issuance and acceptance, Mastercard is addressing some of these gaps. Notably, the company is offering stablecoin payout options to merchants through a partnership with payment platform Nuvei and USDC issuer Circle. This gives businesses more flexibility in how they receive funds, regardless of the customer’s original payment method.

Additionally, Mastercard is expanding access to stablecoins for everyday spending. Through collaborations with wallet providers like MetaMask and exchanges like OKX and Kraken, customers will be able to use their digital asset balances via Mastercard-branded cards at over 150 million global merchant locations.