Quick Highlights
- Stablecoin payments now supported in EEMEA for faster cross-border transactions.
- First partners Arab Financial Services & Eazy Financial Services onboard.
- Supports multiple regulated stablecoins including USDC, USDG, FIUSD, PYUSD.
Mastercard and Circle Expand Stablecoin Payments
Mastercard has announced the next phase of its partnership with Circle, enabling acquirers in Eastern Europe, the Middle East, and Africa (EEMEA) to process payments in USDC and EURC stablecoins.
An acquirer is a bank or financial institution that processes payments for merchants or provides them with cash. This partnership brings blockchain-based payment technology fully in line with Mastercard’s fiat payment channels, according to the company.
First Partners and Benefits for Businesses
The first partners in the initiative are Arab Financial Services and Eazy Financial Services, both financial service providers. They will be able to accept payments in USDC and EURC stablecoins issued by Circle.
The initiative aims to improve cross-border payment efficiency and reduce costs, particularly benefiting businesses in developing countries that often face higher transaction fees and slower settlement times.
Mastercard’s Growing Stablecoin Support
Mastercard continues to support the global development of stablecoins. Beyond USDC, the company supports a growing portfolio of regulated stablecoins from leading issuers, including USDG (Paxos), FIUSD (Fiserv), and PYUSD (PayPal), signaling a strong commitment to the evolving digital currency ecosystem.
Source: https://coinpaper.com/10748/new-mastercard-initiative-lets-merchants-accept-usdc-and-eurc
