Circle and Mastercard have expanded their partnership to enable real-time settlements in stablecoins USDC and EURC across Eastern Europe, the Middle East, and Africa.
New Opportunities for EEMEA Settlements
Circle and Mastercard have enhanced their collaboration, allowing for real-time settlements in stablecoins for regional merchants. This will improve financial accessibility and accelerate the speed of digital remittances.
Lowering Transaction Costs
Notable figures include Kash Razzaghi, Chief Business Officer of Circle, who highlighted the goal of achieving borderless commerce. He stated, "Expanding USDC settlement across Mastercard’s vast network of acquirers in Eastern Europe, the Middle East, and Africa is a pivotal step toward truly borderless, real-time commerce."
Aligning with UN Goals
The partnership is expected to reduce cross-border payment costs, aligning with the UN's sustainable development goals. This also brings greater liquidity to regional markets and enhances the efficiency and speed of digital remittances.
The expansion of the partnership between Circle and Mastercard underscores the importance of integrating stablecoins into traditional financial systems and focuses on reducing transaction costs, which paves the way for further innovation in global digital payments.
