Mastercard is expanding its role in stablecoin payments with a new platform that lets businesses integrate digital currencies into traditional banking and card services, a move that could make it easier for companies to offer stablecoin payments without building their own infrastructure.
The service, dubbed Global Money Platform, is Mastercard’s first major integration with BVNK since it acquired the stablecoin infrastructure company in August, the payments giant announced Thursday.Â
According to Mastercard, businesses can use the platform to hold and convert fiat currencies and stablecoins, offer stablecoin-linked cards and make payments directly from stablecoin balances into recipients’ local bank accounts.
The service connects to Mastercard Move, the company’s global money transfer network, which can route payments to more than 17 billion destinations, including bank accounts and cards. It also connects stablecoin balances to…
