Latest news with #MastercardCryptoCredential
Yahoo
30-04-2025
- Business
- Yahoo
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 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 in to access your portfolio
Yahoo
29-04-2025
- Business
- Yahoo
Mastercard launches stablecoin payment capabilities
Mastercard has unveiled new global stablecoin acceptance and payment capabilities to ensure that individuals and businesses can conduct stablecoin transactions 'anytime' and 'anywhere'. This initiative encompasses services including Wallet enablement, card issuing, merchant settlement, on-chain remittances, and the enhancement of payment and commerce applications. The payments giant has forged partnerships with crypto-native companies such as MetaMask, Kraken, Gemini, Bybit, Binance, Monavate, and Bleap. These collaborations enable consumers to utilise stablecoins in their crypto wallets for payments and to earn rewards through traditional cards at Mastercard-accepting merchant locations worldwide. Additionally, Mastercard Move allows for the withdrawal of stablecoins into bank accounts. In collaboration with OKX, Mastercard is launching the OKX Card, granting customers access to their funds and exploring new avenues to engage with digital assets. This partnership leverages OKX's expertise in crypto trading and the Web3 ecosystem to onboard more users into the digital asset space. Mastercard is also partnering with Nuvei and Circle to offer merchants the option to receive payments in stablecoins such as Circle's USDC, and is working with Paxos to extend this functionality across Paxos-issued stablecoins. The Mastercard Crypto Credential initiative addresses user experience challenges by enabling crypto exchange users to transact digital assets using usernames. Companies such as Wirex, Bit2Me, Lirium, Notabene, and Mercado Bitcoin have already integrated into the Mastercard Crypto Credential ecosystem. The Mastercard Multi-Token Network (MTN) is designed to facilitate real-time payments and redemptions, allowing partners like Ondo Finance to utilise on-chain tokenised assets. JPMorgan Chase and Standard Chartered have connected to MTN, linking deposit accounts to digital asset applications. Mastercard chief product officer Jorn Lambert said: '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.' This follows Mastercard's introduction of a new programme to accelerate the adoption of virtual cards to ease commercial payments between banks, platforms, and corporates. "Mastercard launches stablecoin payment capabilities " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Wire
28-04-2025
- Business
- Business Wire
Mastercard Unveils End-to-End Capabilities to Power Stablecoin Transactions – From Wallets to Checkouts
PURCHASE, N.Y.--(BUSINESS WIRE)--Mastercard is advancing the future of payments, finance and technology with new, global end-to-end stablecoin acceptance and payments capabilities. With increasing global regulatory clarity, stablecoins are evolving from crypto trading tools to essential solutions that bring efficiency and programmability to payments, disbursements, and remittances. Harnessing this potential, Mastercard is ensuring that people and businesses can make and receive stablecoin payments – anytime, anywhere. "We believe in the potential of stablecoins to streamline payments and commerce across the value chain," said Jorn Lambert, chief product officer at Mastercard. "Unlocking this is core to how we navigate the rapidly changing world." Share While banks and fintechs are increasingly engaging with solutions built on stablecoins, global ubiquity and scale is contingent on everyday utility, seamless integration into existing financial systems, and an intuitive user experience. To allow consumers and businesses to use stablecoins as easily as the money in their bank accounts, Mastercard is providing an integrated, 360-degree approach: Wallet enablement, card issuing and acceptance: Mastercard's partnerships with crypto natives like MetaMask, Kraken, Gemini, Bybit, Binance, Monavate and Bleap allow consumers to enter the crypto ecosystem to earn rewards, pay, and spend the stablecoins in their crypto wallets via traditional cards at the over 150 million merchant locations accepting Mastercard globally, as well as withdraw stablecoins into their bank accounts with Mastercard Move. Differentiated value through cards and beyond: Mastercard is partnering with OKX to launch the OKX Card, providing millions with easy access to their funds. Mastercard and OKX will explore new opportunities to help people meaningfully engage with digital assets and connect with their passions – leveraging OKX's leadership in crypto trading and its growing Web3 ecosystem to bring more people on-chain. Merchant settlement: As acquirers and merchants increasingly explore and leverage digital assets for settlement, Mastercard is teaming up with Nuvei and Circle to give merchants the option to receive their payments in stablecoins such as Circle's USDC, regardless of how a consumer chooses to pay. Mastercard also works closely with Paxos to enable this functionality across Paxos-issued stablecoins. On-chain remittances: Stablecoins are fast and cost-effective, making them ideal for remittances and cross-border disbursements. However, current user experiences are cumbersome and lack essential verification and transparency to protect their transactions. Mastercard Crypto Credential solves this by allowing crypto exchange users to send and receive digital assets with simple and trusted usernames. Wirex, Bit2Me, Lirium, Notabene, and Mercado Bitcoin have already joined the Mastercard Crypto Credential ecosystem. Powering more efficient payments and commerce applications: Stablecoins can streamline settlement across markets and currencies around the world. The Mastercard Multi-Token Network (MTN) helps enable real-time payments and redemptions, allowing partners like Ondo Finance to leverage on-chain tokenized assets. J.P. Morgan's Kinexys Digital Payments and Standard Chartered are connected to MTN today, connecting deposit accounts to new and emerging digital asset use cases. 'When it comes to blockchain and digital assets, the benefits for mainstream use cases are clear,' said Jorn Lambert, chief product officer at Mastercard. '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.' Grounded by its principled approach to innovation, Mastercard will continue to work with its wide range of partners to pioneer the next generation of payments, enabling new ways to transact and fortifying trust across all forms and flows. Quote Sheet 'OKX is pushing the boundaries of what's possible in the world of digital assets,' said Haider Rafique, managing partner and chief marketing officer, OKX. 'Our strategic partnership with Mastercard to launch the OKX Card reflects our commitment to making digital finance more accessible, practical, and relevant to everyday life. Together, we're taking a significant step toward integrating stablecoins into daily transactions and creating richer experiences—while bringing new users on-chain through OKX's leadership in crypto trading and our growing Web3 ecosystem.' 'At Nuvei, our priority is delivering secure and efficient payment solutions that meet the highest standards,' said Phil Fayer, chief executive officer, Nuvei. 'By partnering with Mastercard and Circle, we're embracing cutting-edge technologies to enhance how our merchants handle payments and settlements. These collaborations allow us to offer innovative solutions that bridge traditional and digital finance, helping our merchants grow and thrive in today's fast-evolving global market.' 'At MetaMask, we're committed to empowering users with seamless access to the Web3 economy, without compromising on self-custody or choice,' said Ale Machado, product lead, MetaMask Card at Consensys. 'Our collaboration with Mastercard enables people to stay engaged in decentralized protocols and stablecoins, right up to the moment they choose to spend, unlocking everyday utility.' 'Crypto is rapidly becoming the future of everyday payments. At Kraken, we're focused on accelerating that shift — and collaborating with partners like Mastercard is key to unlocking crypto's real-world utility at global scale,' said Mark Greenberg, Kraken's global head of consumer business and product. About Mastercard Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
