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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 Expands Global Card Network with 24/7 Stablecoin Settlement
Reading Time: 3 minutesKey Takeaways: Mastercard is breaking past traditional banking hours to allow always on, intraday settlements on weekends and holidays. The upgrade will enhance transaction clearing capabilities across Mastercard’s network of 3.7 billion cards in over 210 countries. The network is onboarding eight distinct blockchain networks, including Base, Solana, Arbitrum, Ethereum, and the XRP Ledger. Mastercard has announced an upgr…
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