Mastercard Expands Stablecoin Settlement for Card Payments, Adds USDC and RLUSD
Summary
- Mastercard said it is expanding stablecoin-based card payment settlement and plans to let card issuers and acquirers settle some transactions in stablecoins.
- The service supports both fiat currency settlement and stablecoin-based on-chain payments, and was designed to give partners more flexibility in managing settlement timing and liquidity.
- Supported settlement assets include Circle (USDC), Ripple USD (RLUSD), PYUSD and SoFi USD (SoFiUSD), and Cointelegraph said the move shows stablecoins are moving deeper into mainstream financial infrastructure.
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Mastercard is expanding stablecoin-based settlement for card payments.
Cointelegraph reported on June 3 that Mastercard plans to let card issuers and acquirers settle some transactions in stablecoins. The new feature will cover card payments made on weekdays, weekends and holidays.
Mastercard said it will support both fiat-currency settlement and stablecoin-based on-chain payments. The service is designed to give partners more flexibility in managing settlement timing and liquidity, the company said.
Supported settlement assets include Circle's USDC, Ripple USD (RLUSD), PYUSD and SoFi USD (SoFiUSD). Supported networks include Ethereum, Solana, Arbitrum, Base and the XRP Ledger.
Cointelegraph said the move shows stablecoins are moving deeper into mainstream financial infrastructure. It added that major payment companies and remittance firms are also expanding their use of stablecoins. The total stablecoin market is now valued at $320 billion.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
