Mastercard said it will allow merchants across its network to pay with Stablecoins in a cooperation with the Nuvei payment processor and Stablecoin Issuers Circle and Paxos.
By adventure, 150 million merchants across the Mastercard network will now have the option to receive payments to StablecoinsRegardless of how a customer pays, MasterCard Says on April 28th.
Giant payments also cooperated with the Bank Card Crypto exchange for a crypto-enabled crypto, which Mastercard’s chief product Jorn Lambert said creating a “360-degree approach” in which consumers can spend stablecoins and merchants can receive them.
He added that the “main cases of use are clear” for blockchain tech, and the company wants to “make it easy for traders to receive stablecoin payments and for consumers to use.”
Stablecoin market continues to make gains, crossing a market value of $ 230 billion, an increase of 54% since last yearwith Tether (USDT) and USDC (USDC) dominant in 90% of the market.
Stablecoin active wallets are also there increased by more than 50% In one year, according to a report last month from the Onchain Artemis and Dune review platforms.
The giant banking banking citigroup Predicted in a report of 23 That a combination of growing support for regulation and adoption of financial institutions has set a stage for the Stablecoin market to reach a high $ 3.7 trillion in 2030.
MasterCard launched another Crypto card
Mastercard said its cooperation with OKX for the so-called OKX card aims to give crypto users “easy access to their funds” and include stablecoins in daily transactions.
OKX Marketing Chief Haider Rafique said the adventure of the exchange along with Mastercard was “a significant step towards the integration of Stablecoins in the sun -day transactions and creating a richer experience.”
Related: MasterCard Tokenized 30% of its transactions in 2024
The Metamask Crypto Wallet manufacturer also cooperated with MasterCard on April 28 to Launch a Crypto payment card Allows users to spend self-customied funds, using smart contracts to perform IRL transactions (in real life), with processing speeds in under five seconds.
Mastercard also worked Crypto exchanges such as KrakenBinance, and crypto.com to allow crypto debit cards.
Magazine: Bitcoin payments are weakened by centralized stablecoins
