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Mastercard Adds Stablecoin Settlement for Card Transactions
The network will support regulated stablecoins and on-chain settlement, giving banks and payment firms intraday, weekend and holiday liquidity options.
- On Wednesday, Mastercard announced plans to offer issuers and acquirers on-chain settlement options using regulated stablecoins, enabling intraday, weekend, and holiday transactions alongside existing fiat processes.
- Traditionally, card transactions are authorized instantly but settlement occurs in batches limited by banking hours; Mastercard's framework moves the network toward an always-on model for continuous value transfer.
- Support for stablecoins includes Circle's USDC, Paxos-issued PYUSD, USDG, USDP, Ripple's RLUSD, and SoFiUSD, operating across Ethereum, Solana, Polygon, Base, Arbitrum, and XRPL.
- Financial institutions including Cross River, Lead Bank, CBW Bank, ARQ, and Nuvei are expected to be among the first participants, with rollout support extending to Latin America.
- Raj Dhamodharan, Mastercard's executive vice president of blockchain and digital assets, said "The next phase of stablecoin adoption is about real-world utility, especially in settlement." Banks increasingly view stablecoins as alternatives to traditional banking schedules.
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Company intends to offer intraday settlement, on weekends and holidays, in addition to transactions with regulated stablecoins
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Mastercard Enables Stablecoin Settlements On Solana
Mastercard, a renowned global payments ecosystem, has partnered with Solana, an efficient public blockchain network. In this partnership, Mastercard is bringing stablecoin settlement on Solana to expand the payments on-chain across more than 210 jurisdictions. As per Mastercard’s official press release, the initiative denotes a key milestone for digital asset adoption in the mainstream financial sphere. Hence, the development underscores the rap…
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