Mastercard Enables Stablecoin Payments for Merchants Through New Partnerships

Mastercard has unveiled a initiative allowing merchants to accept payments in stablecoins, marking a significant step toward mainstream crypto adoption in commerce. The payments giant is collaborating with processor Nuvei and stablecoin issuers Circle (USDC) and Paxos to facilitate the service.

The move follows legislative progress on the GENIUS Act, a bipartisan U.S. stablecoin regulation bill that cleared a Senate committee in March. Standard Chartered projects the global stablecoin market could reach $2 trillion within three years post-regulation.

"Regulatory clarity is transforming stablecoins from crypto trading instruments into programmable payment solutions," a Mastercard spokesperson noted, highlighting applications in cross-border remittances and disbursements.