🧰 Mastercard 💰 and Visa💳 simultaneously launch integrations for stablecoin payments

🧰 Mastercard 💰 and Visa💳 simultaneously launch integrations for stablecoin payments

Multiple forms of money on a single platform, as both companies seek to keep pace with the competition.

🔜 Mastercard 💰 and BVNK🇬🇧 are launching Global Money Platform. The platform combines Mastercard’s payment capabilities with BVNK’s stablecoin infrastructure through a single API. It also integrates Mastercard Move, a portfolio of global services with more than 17 billion access points, allowing users to make payments in local currency to recipients’ bank accounts using stablecoins. By 2027, coverage is expected to expand to more than 40 currencies across 200 countries.

🔜 Global Money Platform is a comprehensive, modular infrastructure solution for the modern financial industry. Banks and fintech companies can integrate multi-currency accounts supporting both fiat currencies and stablecoins, real-time conversion, stablecoin-linked cards, and payouts to local bank accounts through Mastercard Move into their own products under their own brands. The platform also enables them to directly manage treasury operations, payments, and settlements. The first GMP users will be fintech company Nuvei🇨🇦 and card-issuing platform Marqeta🇺🇸.

🔵 Meanwhile, Visa💳 is partnering with fintech company StraitsX🇸🇬, which provides stablecoin-based settlement services. As a result, StraitsX will expand the reach of its card infrastructure beyond Asia by leveraging Visa’s compliance capabilities. Previously, annual transaction volume on StraitsX cards exceeded USD 6 billion, making these cards a common payment method in Southeast Asia.

🔵 StraitsX enables fintech companies to launch card programs in which stablecoins provide the underlying funding and serve as the basis for settlement flows, while Visa cardholders continue to transact as usual. For companies operating across multiple markets, this will make it possible to combine stablecoin infrastructure with the ability to issue cards globally, supported by a single infrastructure partner that also helps keep compliance requirements up to date.

🟦 Context: Stablecoins, initially used primarily in the cryptocurrency space, are gradually becoming a practical component of payment infrastructure. As a result, traditional market players are seeking to modernize, following the lead of fintech startups.

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