According to a report by Decrypt, Mastercard has entered into a partnership with cryptocurrency payment company MoonPay to launch a payment card supporting stablecoins, allowing users and businesses to make global payments and receive funds in stablecoins.
This global stablecoin payment card service will rely on the technology of the stablecoin infrastructure platform Iron, with all transactions automatically converted into fiat currency. Iron was acquired by MoonPay in March of this year.
This collaboration is the latest development following Mastercard’s partnerships with cryptocurrency exchange OKX, payment processor Nuvei, and stablecoin issuer Circle. In April of this year, the payment giant announced a series of global end-to-end features for stablecoins, ranging from card issuance, merchant settlements, on-chain remittances to innovative payment applications, while also announcing a collaboration with OKX to launch the OKX Card, enabling millions of users to easily utilize cryptocurrency funds.
