Mastercard Expands Payment Settlement to Regulated Stablecoins

Mastercard has announced its plan to settle card payments in regulated stablecoins across eight blockchains, including Ethereum, Solana, and the XRP Ledger. This move is part of the company's efforts to provide round-the-clock on-chain transactions, reducing the lag in cross-border payments and treasury flows.

The new service will allow card issuers and acquirers to clear transactions directly on-chain, using stablecoins such as Circle's USDC and Paxos-issued PYUSD. The option is voluntary and sits alongside Mastercard's current fiat process, with existing security checks and fraud safeguards carrying over to the new rails.

Raj Dhamodharan, Mastercard's executive vice president of blockchain and digital assets, emphasized the importance of timing and liquidity in settlement. He noted that intraday and weekend options will help partners manage cash in an always-on economy.