MoonPay Launches Stablecoin Card With Mastercard
Hey FinTech Fanatic!
And once again, I’m back with stablecoins, though this time, there's more than that.
MoonPay is making a move into the world of offline payments. The crypto firm has partnered with Mastercard to roll out a debit card that allows people and businesses to spend stablecoins at over 150 million merchants worldwide. Fiat conversion will take place behind the scenes, no disruption for the merchant, just new rails quietly replacing the old.
The card is powered by Iron, a stablecoin payments platform MoonPay acquired in March. With that acquisition, MoonPay has taken a step deeper into the infrastructure layer of digital payments, positioning itself for broader utility.
“Our acquisition of Iron and long-standing relationship with Mastercard allow us to power a new era of payments made with stablecoins at more than 150 million merchant locations worldwide,” said Ivan Soto-Wright, CEO & Founder at MoonPay.
While Scott Abrahams, executive vice president, Global Partnerships at Mastercard, said, “Together with MoonPay, we’re building innovative and secure connectivity between crypto and mainstream finance ecosystems, grounded by trust and driven by scale.”
Meanwhile, Mastercard continues building its network of crypto collaborations. In April, it joined forces with Kraken, OKX, and Nuvei on similar card projects. Not to be outdone, Visa launched a stablecoin pilot across six Latin American countries just days ago.
Regulation is still catching up. The SEC recently suggested that some stablecoins might not count as securities, but plenty of gray areas remain. It quietly closed its probe into PayPal’s stablecoin, yet left big questions hanging. Still, card networks aren’t slowing down, they’re pressing ahead with stablecoin rails for remittances, creator payouts, and cross-border payments.
Read more global FinTech industry updates below 👇 and I'll be back with more on Monday!
Cheers,
INSIGHTS
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DIGITAL BANKING NEWS
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MOVERS AND SHAKERS
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