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Mastercard Announces End-to-End Stablecoin Payments System
In a groundbreaking move, credit card giant Mastercard has announced the launch of its end-to-end stablecoin payments system. This innovative technology enables users to pay with and spend their stablecoins in their crypto wallets via traditional cards at over 150 million merchant locations worldwide that accept Mastercard.
Mastercard has made it clear that this new system is not just a one-way street, but rather an open-ended solution that allows merchants to receive Circle’s USDC stablecoin. This development comes as no surprise, considering the ongoing efforts of both governments and financial institutions to make cryptocurrency transactions more mainstream.
In a bid to realize its potential, Mastercard has revealed that it will be collaborating with several leading crypto platforms, including MetaMask, Kraken, Gemini, Bybit, Crypto.com, and Binance. The partnership with these industry leaders aims to provide users with seamless payment experiences.
Mastercard’s 360-degree approach includes the launch of its Mastercard Multi-Token Network (MTN), which enables real-time payments and redemptions while also enabling partners like Ondo Finance to utilize on-chain tokenized assets. Notably, JPMorgan and Standard Chartered are currently connected to MTN.
The company has claimed that this innovative technology is designed to make it easy for merchants to receive stablecoin payments and for consumers to use them in their daily lives. This new system, the company believes, will unlock a 360-degree approach where consumers can spend stablecoins and merchants can receive them seamlessly.
Source: https://cryptopotato.com/mastercard-announces-end-to-end-stablecoin-payments-system/
