Summary
- Mastercard announced plans to launch a stablecoin-based payment card in collaboration with MoonPay.
- MoonPay stated it will build a stablecoin settlement system using the technology of the acquired 'Iron'.
- The partnership is expected to enable stablecoin payments at up to 150 million merchants.
Global payment company Mastercard is collaborating with cryptocurrency payment firm MoonPay to launch a stablecoin-based payment card worldwide.
According to cryptocurrency media outlet Decrypt on the 15th, MoonPay plans to build a stablecoin settlement system with Mastercard using the technology of the payment infrastructure company 'Iron', which it acquired last March. Through this, users will pay with stablecoins, and merchants will receive settlements in fiat currency through the Mastercard network.
Previously, Mastercard has continuously expanded its blockchain-based payment network through partnerships with OKX, Nuvei, and stablecoin USD Coin (USDC) issuer Circle.
The media reported, "This partnership is expected to enable stablecoin payments at up to 150 million merchants," adding, "Despite regulatory uncertainties, the payment industry is strengthening its investment in stablecoin infrastructure."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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