Mastercard Unveils End-to-End Stablecoin Capabilities, Will Launch Card With OKX
Mastercard is moving deeper into the digital asset economy by launching new global capabilities to support stablecoin payments across its vast merchant network, the company announced Monday.
The payments giant is working with crypto exchange OKX to roll out the "OKX Card," aimed at linking crypto trading and Web3 activities with everyday spending. Meanwhile, merchants will soon be able to settle transactions directly in stablecoins such as Circle's USDC, thanks to collaborations with Nuvei and Circle. Paxos will help extend this functionality to other supported stablecoins like USDP.
'When it comes to blockchain and digital assets, the benefits for mainstream use cases are clear,' Jorn Lambert, chief product officer at Mastercard, said in a statement. 'To realize its potential, we need to make it as easy for merchants to receive stablecoin payments and for consumers to use them. We believe in the potential of stablecoins to streamline payments and commerce across the value chain. Unlocking this is core to how we navigate the rapidly changing world, giving people and businesses the freedom they want by providing the choices they deserve,' he said.
Stablecoins, which are cryptocurrencies pegged to stable assets like the U.S. dollar, have been gradually moving beyond trading venues into mainstream payments.
Mastercard's initiative covers the full range of stablecoin use cases, from wallet enablement and card issuance to merchant settlement and on-chain remittances. The company has previously partnered with crypto exchanges like Kraken, Binance and Crypto.com to allow users to pay with stablecoins via traditional cards.
Last year, it rolled out Mastercard Crypto Credential, a service designed to simplify sending digital assets across borders using verified usernames rather than complex wallet addresses.
In 2023, Mastercard launched its Multi-Token Network (MTN) which is being leveraged to facilitate real-time settlements and redemptions of tokenized assets.
Ondo Finance, in February, became the first provider to bring real-world assets to the network.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.Sign in to access your portfolio
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
Circle IPO: Stock price today as stablecoin company makes long-awaited NYSE debut
The time has come for another highly anticipated arrival on the New York Stock Exchange (NYSE). Circle Internet Group, a stablecoin provider, is making its initial public offering today for $31 a share. Here's everything you need to know about Circle's IPO. Why you're catching the 'ick' so easily, according to science Why AI Is Making 1:1 Meetings Irrelevant Where are the wildfires in Canada? Maps pinpoint the location of fires and air-quality threats from smoke New York-based Circle, led by CEO Jeremy Allaire, is the issuer of USDC, a stablecoin tied to the U.S. dollar and the second-largest stablecoin globally. Circle also offers EURC, a stablecoin tied to the Euro. Circle set its share prices on Wednesday and plans to list its stock today, Thursday, June 5. The offer is expected to close the following day, Friday, June 6. Circle will trade its stock under the ticker CRCL. Circle will trade its shares on the NYSE. Circle's share price for the IPO is $31. The marketed estimate was $27 to $28. There will be 34 million shares of CRCL available. Circle is offering 14.8 million shares, while stockholders are selling 19.2 million shares. In addition, Circle is offering underwriters, like JPMorgan and Goldman Sachs, 30 days to purchase 5.1 million additional shares. The company is set to raise $1.1 billion in its IPO. Circle's current valuation is about $6.9 billion, but once all shares are diluted, it could increase to $8.1 billion. The stock market has experienced volatility under President Trump—especially in response to his 'Liberation Day' tariffs. However, PitchBook reports that some big names, such as Klarna, Discord, and Figma, are still expected to make IPOs this year. Klarna is the likeliest, with a 97% probability. Meanwhile, digital banking services startup Chime Financial is expected to list on the Nasdaq as soon as next week. This post originally appeared at to get the Fast Company newsletter: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22 minutes ago
- Yahoo
ARK Invest Loaded Up $373M Worth of Circle Shares on First Day of Trading
Cathie Wood's ARK Invest bought nearly 4.5 million Circle (CRCL) shares on the stablecoin issuer's first day of trading, a holding worth $373 million at the stock's closing price. The St Petersburg, California-based investment manager was quick to add the USDC issuer to its portfolio companies that provide exposure to the crypto industry along with the likes of Coinbase (COIN), Robinhood (HOOD) and Block (XYZ). Circle shares surged on the company's New York Stock Exchange debut, climbing as high as $103.75, around 50% higher than its opening price of $69. CRCL closed at $83.23 on Thursday. The IPO price was $31. ARK also offloaded a chunk of shares in other crypto companies, selling $39 million of COIN, $18.5 million of HOOD and $10.4 million of in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Crypto exchange Gemini confidentially files for US IPO
(Reuters) -Crypto exchange Gemini said on Friday it had confidentially filed for a U.S. initial public offering, as digital asset companies move to tap into renewed investor risk appetite amid improving market conditions. Several high-profile companies, including those in high-risk sectors such as crypto and financial technology, have launched successful listings in recent weeks, reflecting pent-up demand. Earlier this week, stablecoin issuer Circle went public in a blowout debut on the New York Stock Exchange. Analysts said Circle's successful debut could encourage more cryptocurrency firms to pursue public listings, adding that the trajectory is likely to embolden others eyeing stock market debuts. Gemini, which operates a trading platform enabling investors to buy, sell and store more than 70 crypto tokens, said it has not yet determined the size or proposed price range for its offering. The surge in cryptocurrency IPOs signals a potential turning point for the industry, suggesting growing confidence among digital asset firms in their ability to attract mainstream investors. This wave of public listings could bring increased transparency, regulatory scrutiny and capital to the sector, helping solidify crypto's place within traditional financial markets. However, analysts have cautioned that challenges remain as companies navigate volatile markets and evolving regulations. In May, Coinbase became the first U.S. crypto-focused company to join the S&P 500, a watershed moment for the industry that signaled rising mainstream acceptance of digital assets. As the sector matures financially and in regulatory matters, crypto firms are becoming more integrated into the traditional market landscape. This marks a sharp turnaround for an industry that spent more than a decade under intense regulatory scrutiny worldwide. After the collapse of crypto exchange FTX in 2022, many institutional investors retreated from the digital asset market. Prices later recovered, and the sector gained renewed momentum when U.S. President Donald Trump voiced support during his campaign, pledging to be a "crypto president."
