Mastercard said on June 3 that it plans to allow issuers and acquirers to settle card payments using regulated stablecoins alongside fiat currencies.

The move would add intraday, weekend, holiday, and on-chain settlement options, helping financial institutions manage liquidity more efficiently.

Initial support includes Circle’s USDC, Paxos-issued PYUSD, USDG, and USDP, Ripple’s RLUSD, and SoFiUSD across Ethereum, Solana, Polygon, Base, Arbitrum, and XRPL.

Cross River, Lead Bank, CBW Bank, ARQ, and Nuvei are expected to be among the first participants in the US and Latin America.

In card payments, issuers represent cardholders, and acquirers represent merchants.

Checkout approval does not move money, and the transfer of funds between their banks usually follows later, while stablecoin settlement can operate 24/7.

🔗 Source: CoinDesk

Recent Mastercard developments