Global payments giant Mastercard has taken another major step toward integrating blockchain into traditional finance. It announced broader settlement capabilities that now include several stablecoins, such as Ripple’s RLUSD, Circle’s USDC, Paxos-issued PYUSD, USDG, and USDP, and SoFi’s SoFiUSD.
The crypto assets linked to the US dollar will be enabled across a wide range of supported networks, such as XRPL, Solana, Ethereum, Arbitrum, and Base.
To Settle Transactions in Stablecoins
The announcement from the TradFi behemoth reveals that the company is expanding its infrastructure to allow merchants and partners to settle transactions using the aforementioned assets. This is considered a significant evolution from pilot programs into more practical, real-world applications.
The firm has been building out its crypto strategy through its Multi-Token Network (MTN), designed to bridge traditional finance and digital assets. Most recently, it outlined a new collaboration that included some industry giants such as Binance, Ripple, and even PayPal.
Its stablecoin initiatives saw a major push in March when Mastercard announced the acquisition of such a payments firm called BVNK for $1.8 billion.
RLUSD has drawn particular attention due to Ripple’s strong presence in cross-border payments. However, Mastercard’s announcement encompasses a wider range of established stablecoins, including USDC and PYUSD.
Both are already gaining traction in institutional and payments use cases, and Mastercard is attempting to position itself as a neutral infrastructure layer rather than backing a single issuer.
Stablecoins’ Growth
The company’s latest move on the stablecoin scene comes as demand quickly grows for faster and cheaper cross-border transactions. These assets are increasingly viewed as a viable alternative to legacy correspondent-backing systems, offering near-instant settlement and lower costs.
Mastercard’s decision to expand support signals rising confidence in their long-term role within the global financial system. In addition, the firm emphasized its commitment to regulatory compliance, security, and interoperability, which are all key requirements for institutional adoption.
“The next phase of stablecoin adoption is about real-world utility, especially in settlement, where timing and liquidity matter most. By introducing intraday and weekend on settlement options across our global network, we’re expanding how partners manage liquidity and operate in an always-on digital economy while maintaining the trust, resilience and safeguards they expect from Mastercard,” commented Raj Dhamodharan, executive vice president, Blockchain & Digital Assets at Mastercard.
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