Mastercard partners with MoonPay to support stablecoin payments

The initiative enables fintechs and enterprises to issue Mastercard-branded cards that connect to consumers’ stablecoin balances. Transactions will automatically convert stablecoins to fiat currency at the point of sale, allowing use at more than 150 million locations worldwide that accept Mastercard. The rollout leverages technology from Iron, a stablecoin infrastructure platform acquired by MoonPay in March 2024. This API-based solution will facilitate the use of stablecoins in both consumer and business payment flows. The setup is intended to support global disbursements, particularly in cross-border contexts, offering a way for gig workers, independent contractors, and content creators to receive payouts in stablecoins that are readily spendable through existing card rails. Expanding use of crypto wallets in payments Through this initiative, MoonPay aims to enable crypto wallets to function more like traditional digital bank accounts, expanding their utility in everyday financial transactions. According to data referenced in the announcement, around 20 million crypto wallets are actively used for monthly stablecoin transactions, with roughly 120 million wallets holding stablecoin balances globally. These figures suggest a growing base of users who may benefit from easier integration of digital assets with conventional payment infrastructure. Officials from Mastercard noted that the company continues to develop digital asset capabilities and sees the integration with MoonPay as a way to facilitate more efficient money movement across different regions. They described the initiative as part of a push to improve interoperability between traditional financial systems and the digital asset ecosystem. MoonPay representatives added that the partnership with Mastercard, along with its recent acquisition of Iron , positions the company to support stablecoin card payments on a global scale.