Mastercard and Circle have announced a partnership that will enable instant settlements using stablecoins USDC and EURC with lower fees.
Mastercard and Circle Partnership
On August 26, Mastercard and Circle announced the expansion of their partnership aimed at implementing stablecoin payments across the Eastern Europe, Middle East, and Africa (EEMEA) region. This opens new opportunities for acquirers that connect merchants to the Mastercard payment network.
Advantages of Stablecoins
Settlements in stablecoins allow for instant processing and significantly lower transaction fees. Additionally, payments can be programmed for specific purposes, distinguishing stablecoins from traditional payment methods.
Mastercard's Financial Initiatives
Mastercard is actively advancing its initiatives in the stablecoin space, aiming to integrate them into the financial system. Dimitrios Dosis, president of the EEMEA region, emphasized the importance of developing infrastructure to support the transition from fiat to tokenized money.
The partnership between Mastercard and Circle may play a key role in further integrating stablecoins into everyday financial transactions, easing payments for businesses in the EEMEA region.
