Mastercard says it will allow merchants across its network to be paid with stablecoins in a partnership with payment processor Nuvei and stablecoin issuers Circle and Paxos.
Through the venture, 150 million merchants across the Mastercard network will now have the option to receive payments in stablecoins, regardless of how a customer pays, Mastercard said on April 28.
The payments giant also partnered with crypto exchange OKX for a crypto-enabled bank card, which Mastercard product chief Jorn Lambert said creates a “360-degree approach” where consumers can spend stablecoins and merchants can receive them.
He added that the “mainstream use cases are clear” for blockchain tech, and the company wanted “to make it as easy for merchants to receive stablecoin payments and for consumers to use them.”
Source: Mastercard News
The stablecoin market has continued to make gains, crossing a market