Mastercard brings stablecoin balances into traditional banking and card payments
Summary
Mastercard launched Global Money Platform, its first major integration with BVNK since acquiring the stablecoin infrastructure company in August. Businesses can use it to hold and convert fiat and stablecoins, issue stablecoin-linked cards, and send stablecoin funds to recipients’ local bank accounts. Connected to Mastercard Move and its merchant network, the service can route payments to more than 17 billion destinations. Nuvei, Marqeta and other fintech firms are among the initial partners. The platform expands Mastercard’s role as infrastructure provider for branded stablecoin services and intensifies competition with Visa, which introduced a similar platform in July.
