May 15, 12:00 PM

Mastercard and MoonPay Enable Bitcoin and USDC & USDT Payments for 1.54 Billion Users at 150 Million Merchants

Mastercard, valued at $500 billion, has announced a partnership with MoonPay to enable over 1.54 billion users to send and receive Bitcoin payments. This move is part of Mastercard's broader strategy to integrate cryptocurrency into its payment ecosystem, enhancing its presence in global finance. In addition to Bitcoin, Mastercard and MoonPay are launching stablecoin-powered payment cards. These cards will allow users to make payments in USDC & USDT at 150 million merchants worldwide, with transactions automatically converting to local fiat currency at checkout. The initiative leverages infrastructure from Iron, which MoonPay acquired in March, to facilitate these transactions. Every crypto wallet will also have access to new stablecoin-powered virtual Mastercards. This partnership expands Mastercard's crypto offerings, following recent collaborations with OKX, Nuvei, and Circle. The move comes amidst competition with Visa, which has also begun piloting stablecoin services in six Latin American countries. Mastercard's latest initiative aims to enhance the utility of stablecoins in remittances, creator economies, and cross-border commerce.