Mastercard Expands On-Chain Settlement with Stablecoins

Mastercard is set to enhance its settlement network by incorporating several regulated U.S. dollar stablecoins, including USDC and PYUSD, into its existing fiat processes. This move aims to facilitate intraday, weekend, holiday, and on-chain settlement across networks such as Ethereum, Solana, and Polygon, according to CoinDesk. The initiative reflects a shift towards using stablecoins for instant, cross-border settlements, with early adopters including Cross River and Lead Bank. Mastercard's expansion underscores a broader trend of integrating blockchain-based payments into global financial systems.