MoonPay and Mastercard partner to launch global stablecoin payments

In a new partnership designed at bridging traditional finance with the digital asset economy, Mastercard and MoonPay announced a global collaboration to enable stablecoin payments at scale. Editor’s note: this article has been updated to accurately attribute a quote to Mastercard’s Scott Abrahams . We apologize for the error. The initiative will allow businesses and consumers to pay and be paid using stablecoins across Mastercard’s merchant network, according to a press release sent to crypto.news. Enterprises and financial technology firms will soon be able to issue Mastercard-branded cards linked to users’ stablecoin wallets, allowing cardholders to spend their digital assets in real time. The stablecoins will be instantly converted to fiat currency at the point of sale and will be valid for payment at more than 150 million Mastercard-accepting locations around the world. Turning crypto wallets into global bank accounts At the heart of the new payment rails is Iron, the API-powered stablecoin infrastructure recently acquired by MoonPay in March. Iron enables crypto wallets to function like digital bank accounts, making stablecoin transactions fast, efficient, and accessible for global payouts, disbursements, and cross-border commerce. Businesses will be able to streamline payments to gig workers, creators, and contractors using stablecoin rails. This could reshape how digital-native workers around the world get paid, especially in underbanked regions or in high-fee remittance corridors. “By providing solutions that unlock stablecoin utility and ubiquity, we are redefining how money moves globally and driving a shift in payments as we know it,” Scott Abrahams, executive vice president of Global Partnerships. “Together with MoonPay, we’re building innovative and secure connectivity between crypto and mainstream finance ecosystems, grounded by trust and driven by scale.” Tapping into a 120m user base MoonPay’s network integrates with over 500 leading crypto platforms, including major wallets and exchanges, connecting with more than 100 million active users. Approximately 20 million wallets are already conducting monthly stablecoin transactions, with 120 million globally holding stablecoin balances, signalling strong demand for real-world spending solutions. “MoonPay serves the largest crypto wallets in the industry, and with Mastercard, we’re bringing convenient, trusted stablecoin-enabled cards to crypto users around the world,” said Scott Abrahams, executive vice president of Global Partnerships This collaboration builds on Mastercard’s ongoing push into the digital assets space, extending its support for end-to-end stablecoin payments and expanding the use of blockchain in everyday financial transactions. Source: https://crypto.news/moonpay-and-mastercard-partner-to-launch-global-stablecoin-payments/