News
Paxos launched the Global Dollar stablecoin in the EU, claiming MiCA compliance and support from Kraken, Robinhood and Mastercard under the GDN initiative.
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Mastercard News
Mastercard Worldwide, or Mastercard incorporated, is an international payment system and transnational financial corporation that unifies 22,000 financial organizations in 210 countries around the world. The company was founded in 1966 with the merger of several Californian banks to compete with Bank of America, which currently works with Visa — Mastercard’s main opponent. The company is currently headquartered in New York and Mastercard’s CEO is Ajaypal Singh Banga. The main activity of Mastercard is the processing of payments between the acquired banks, which serve as the place of trades, and other credit corporations that use Mastercard’s debit and credit cards. The Mastercard association is aimed at managing the business, promoting the brand, and developing and implementing new technologies, such as a contactless way of making payment called PayPass.
- News
Stablecoins are now the “default settlement layer for the internet,” surpassing Visa and Mastercard in onchain transaction volume.
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The integration comes with help from several Web3 companies, whose technologies offer a compliant user experience.
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HeyMint is Alchemy’s second acquisition this month, joining the recently announced Solana ecosystem company Dexter Lab.
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Kima has integrated with Mastercard’s sandbox program to enable stablecoin top-ups for prepaid cards from self-custody wallets.
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Mercuryo CEO Petr Kozyakov told Cointelegraph that with crypto salaries becoming a growing trend, there’s an increasing need for ways to spend crypto.
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Stablecoins are gaining adoption as firms feel more comfortable with a legal landscape that is increasingly accommodating to crypto.
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Stablecoins are gaining renewed momentum, as major banks and payment giants enter the market, but questions remain about their stability, regulatory oversight and the risks posed by centralization and fraud.
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Mastercard also partnered with OKX for a crypto-enabled bank card, which Mastercard product chief, Jorn Lambert, said creates a “360-degree approach” to stablecoins.
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Kraken’s Mastercard crypto debit cards will be available in the coming weeks, with clients currently joining a waitlist for the product.
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The annualized transaction value of stablecoins surpassed $15.6 trillion in 2024, or 119% of those by Visa and 200% of Mastercard.
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Mastercard tokenized 30% of transactions in 2024. It views stablecoins as competition, acknowledging crypto’s potential to disrupt traditional finance.
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Floki is one of a growing number of crypto firms issuing regional payment cards that let users spend cryptocurrencies.
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The new offering will be available across all Crypto.com card tiers with up to 8% rewards on spending.
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The Mastercard Multi-Token Network is connecting with JPMorgan’s ambitious Kinexys Digital Payments for faster settlement.
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