Mastercard Launches Global Stablecoin System, Enabling Payments at 150M Merchants via OKX Card and USDC Settlement

Mastercard, serving 1.1 billion users, has announced the launch of a global stablecoin payment system, which includes capabilities for wallet enablement, card issuance, merchant settlement, and on-chain remittances. The initiative aims to facilitate stablecoin transactions from wallets to checkouts, enhancing the integration of cryptocurrencies into everyday spending. The company has partnered with OKX and Nuvei to issue the OKX Card, which will link crypto trading with traditional spending. This partnership is part of Mastercard’s broader strategy to support stablecoin payments at over 150 million merchants globally, allowing consumers to spend stablecoins and businesses to settle in USDC. Mastercard is also collaborating with Circle, Paxos, and other entities to enable direct merchant settlement in stablecoins, reflecting an increasing global regulatory clarity on digital assets. In addition, Mastercard has expanded wallet integrations with platforms like MetaMask and Kraken. Furthermore, in collaboration with CompoSecure and Baanx, Mastercard is set to debut a new metal card in Q2 2025, which will allow users to hold funds onchain on Linea for payments authorized via smart contracts within 5 seconds. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant