Mastercard has announced an expansion of its partnership with Circle, allowing companies in the Eastern Europe, Middle East, and Africa (EEMEA) regions to process payments in stablecoins.
Expansion of Mastercard and Circle Partnership
Mastercard announced the next phase of its partnership with Circle, allowing banks and financial institutions in EEMEA to process payments in USDC and EURC stablecoins. This collaboration aligns blockchain-based payment technologies with Mastercard's fiat payment channels.
First Partners and Benefits for Businesses
The first partners in this initiative are Arab Financial Services and Eazy Financial Services. These financial institutions will be able to accept payments in USDC and EURC stablecoins, improving cross-border payment efficiency and reducing costs for businesses, particularly in developing countries.
Mastercard's Growing Stablecoin Support
Mastercard continues to support the global development of stablecoins, endorsing a broad portfolio of regulated stablecoins. Beyond USDC, it includes USDG, FIUSD, and PYUSD, reinforcing the company's commitment to the evolving digital currency ecosystem.
The expansion of stablecoin support from Mastercard and Circle may significantly change the landscape of financial transactions in the EEMEA region, making them more efficient and accessible for businesses.
