Crypto News Today: Mastercard Launches All-in-One Solution for Stablecoin Payments

Mastercard is bringing stablecoins to the mainstream, making it easy to use them for payments at millions of merchants. With new partnerships with OKX and Nuvei, stablecoins will soon work just like regular money, creating a seamless experience for everyone.

In a press release on Monday, the company notes that its new partnerships will create a complete system where consumers can spend stablecoins and merchants can accept them.

Mastercard Partners with OKX, MetaMask, and Others

Through partnerships with platforms like MetaMask, Kraken, and OKX, consumers can earn rewards, pay, and spend stablecoins at over 150 million merchants worldwide using traditional cards. 

Mastercard is collaborating with OKX to launch the OKX Card, offering seamless access to funds. It has teamed up with Nuvei and Circle to enable stablecoin payments like Circle’s USDC, ensuring smooth transactions regardless of how a consumer chooses to pay. It also works closely with Paxos to enable this functionality across Paxos-issued stablecoins.

Trusted Usernames and Real-Time Transactions

Mastercard said that while stablecoins are fast and cost-effective, current user experiences lack verification and transparency. Their Crypto Credential solves this by allowing users to send and receive digital assets with trusted usernames. Partners like Wirex, Bit2Me, and Mercado Bitcoin are already part of the Mastercard Crypto Credential ecosystem.

Furthermore, Mastercard’s Multi-Token Network (MTN) enables real-time payments across markets and currencies. Partners like Ondo Finance use tokenized assets, while banks like JPMorgan Chase and Standard Chartered are already connected to MTN, unlocking new digital asset opportunities.

“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,” he added. 

Mastercard has previously partnered with crypto exchanges like Kraken, Binance, and Crypto.com to allow users to pay with stablecoins via traditional cards.