Mastercard links with Circle, Paxos for merchant stablecoin payments
Mastercard will enable merchants to accept stablecoin payments through a partnership with Nuvei, Circle, and Paxos, impacting 150 million merchants. This initiative allows consumers to spend stablecoins seamlessly. Mastercard also partnered with OKX to launch a crypto-enabled bank card, enhancing the integration of stablecoins into everyday transactions. The stablecoin market has grown to over $230 billion, with Tether and USDC holding 90% market share. Citigroup forecasts the stablecoin market could reach $3.7 trillion by 2030 due to increasing regulatory support and institutional adoption. Additionally, Mastercard collaborated with MetaMask to introduce a crypto payments card for self-custodied funds, and has previously partnered with exchanges like Kraken and Binance for crypto debit cards.
