Yigit Taha OZTURK 
Mastercard is taking a major step toward integrating digital currencies into mainstream commerce. The company announced on April 28 a partnership with Nuvei, Circle, and Paxos that allows 150 million merchants to accept stablecoin payments, regardless of how the customer pays.
Jorn Lambert, Mastercard’s Chief Product Officer, described the initiative as a “360-degree approach” that enables consumers to spend stablecoins while allowing merchants to accept them with ease.
150 Million Merchants Can Now Accept Stablecoins
The stablecoin market has surged in the past year, reaching a total value of over $230 billion, a 54% increase year-over-year. USDT (Tether) and USDC (Circle) dominate around 90% of the market.
You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!
According to a report by Artemis and Dune, active stablecoin wallets have grown by over 50% in the past 12 months. Investment bank Citigroup predicted in an April 23 report that the market could hit $3.7 trillion by 2030 due to regulatory clarity and growing institutional interest.
Partnerships With OKX and MetaMask Strengthen Card Utility
Beyond enabling merchants to receive stablecoins, Mastercard is also helping users spend them in the real world. The company launched the OKX Card in partnership with crypto exchange OKX, enabling seamless spending of digital assets.
On the same day, MetaMask and Mastercard revealed a crypto card that lets users make self-custodied payments via smart contracts, with transaction speeds under five seconds.
Mastercard has previously collaborated with Binance, Kraken, and Crypto.com on similar crypto-enabled debit card products.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.