Stablecoins Go Mainstream as Mastercard Partners With Circle to Power Real-Time Payments for Merchants Worldwide

Mastercard Expands Stablecoin Settlement Across Emerging Markets

Mastercard has moved to integrate digital currencies deeper into global finance by allowing merchants and banks in Eastern Europe, the Middle East and Africa (EEMEA) to settle payments directly in Circle’s USD Coin (USDC) and Euro Coin (EURC).

The expansion, announced on 26 August, is the first time acquirers in these regions can use stablecoins for settlement, offering new options for trade and remittances.

Arab Financial Services and Eazy Financial Services will be the first to adopt the service.

Stablecoins Enter Everyday Payments

By embedding stablecoins into its acquiring network, Mastercard aims to reduce the friction of international transactions, often slowed by intermediaries and high fees.

The company said merchants across EEMEA can now leverage USDC and EURC as part of its payment infrastructure, supporting faster and more predictable transfers.

Dimitrios Dosis, president of Mastercard for the region, said,

“Through our expanded partnership with Circle, we are taking bold steps in integrating their innovative use across our global network.”

Circle Sees Stablecoins As Key To Borderless Commerce

Circle, issuer of USDC, has been accelerating global partnerships since the passage of the GENIUS Act in the United States earlier this year, which created the first federal rules for stablecoins.

According to Kash Razzaghi, Circle’s Chief Business Officer, the new partnership with Mastercard is a key step toward enabling truly borderless and instant commerce.

“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.”

The company has also been widening its reach across Asia, including talks with South Korea’s largest banks on potential onchain services and a won-backed stablecoin.

In Japan, Circle recently joined a joint venture with SBI Group, Ripple and Startale to build tokenised asset platforms supported by USDC.

Finastra Adds USDC To $5 Trillion Payment Network

Alongside Mastercard’s expansion, London-based financial software provider Finastra announced it has integrated USDC into its Global PAYplus platform.

The system, which processes more than $5 trillion in cross-border payments daily, will allow banks in 50 countries to settle transactions in USDC even when the payment instructions remain in local fiat currencies.

Tackling High Remittance Costs In EEMEA

The timing of these developments is significant for regions where remittances and cross-border trade remain expensive and slow.

According to World Bank data, the average cost of sending $200 in mid-2024 was close to 8%, more than double the UN target of 3%.

Digital methods were cheaper at 5%, but still above desired levels.

Stablecoin-based settlement has the potential to reduce costs further while cutting transaction times from days to near-instant.

Beyond Merchants To Gig Workers And SMEs

Mastercard is also looking at wider uses for stablecoins across remittances, business-to-business transfers, and payouts to gig workers and online creators.

By combining Circle’s stablecoins with its own Multi-Token Network, Crypto Credential and Crypto Secure systems, Mastercard says it can ensure transactions meet compliance and safety standards while preparing its network for the future of tokenised money.

Global Stablecoin Market Continues To Grow

Stablecoins have become a fast-growing segment of digital assets, with the market reaching \$166 billion in capitalisation by June 2025.

Their appeal lies in being pegged to stable currencies such as the U.S. dollar and euro, providing an alternative to volatile cryptocurrencies for daily payments and savings.

For Mastercard, bringing stablecoin settlement into its global network is both a technical move and a strategic investment in emerging financial markets where demand for cheaper, faster payments continues to rise.