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Mastercard announced today that it will expand its global settlement capabilities to support intraday, weekend, and holiday card settlement, using regulated stablecoins to enable 24/7 settlement that traditional banking rails can't support.
What's the Scoop?
- Initial Support and Rollout: The network will support USDC, Paxos-issued stablecoins, Ripple's RLUSD, and SoFi's SoFiUSD, across Arbitrum, Base, Canton, Ethereum, Polygon, Solana, Tempo, and XRPL. ARQ (formerly DolarApp), CBW Bank, Cross River, Lead Bank, and Nuvei are expected to be among the first to support stablecoin settlement, focused initially on the U.S. and Latin America. Mastercard plans to expand to additional regions, partners, and stablecoins through the rest of the year.
- The Bigger Picture: Mastercard's news arrives as CoinDesk reports that Stripe, Visa, and Mastercard are close to introducing a new stablecoin platform, citing three people familiar with the plans. While none of the named companies have confirmed the report, the notion isn’t particularly farfetched and thus we may begin to see more networks follow in Mastercard’s stead here as they prepare themselves for this platforms launch and, overall, a future fully integrated with stablecoins.
