Mastercard and Circle have announced the launch of the ability to settle transactions in stablecoins USDC and EURC for trading in Eastern Europe, the Middle East, and Africa. This event marks a significant step towards digital finance.
Introduction of USDC and EURC
On August 26, a joint press release stated that acquirers and merchants in the region can now transact directly in stablecoins. The introduction of this functionality responds to the growing demand for faster, cheaper, and safer digital settlements, signifying the merging of blockchain and traditional finance.
Driving Stablecoin Adoption
Mastercard aims to integrate stablecoins into everyday financial systems. Dimitrios Dosis, Mastercard’s regional president, noted, “Our strategic goal is to integrate stablecoins into the financial mainstream by investing in infrastructure, governance, and partnerships.” Kash Razzaghi, Chief Business Officer of Circle, added that the expansion would bring “truly borderless, real-time commerce.”
Broader Usage of Stablecoins
This collaboration takes existing Mastercard-Circle projects to the next level. The company actively integrates stablecoins into various aspects of finance, including international transfers and support for gig workers. Fast and secure payment solutions create additional opportunities for businesses and consumers.
The collaboration between Mastercard and Circle opens new horizons for the implementation of stablecoins in everyday financial operations, facilitating more efficient and transparent transactions.
