Mastercard Expands Stablecoin Services with Circle Partnership

Mastercard has partnered with Circle to enable stablecoin settlements for merchants across Europe, the Middle East, and Africa. USDC and EURC settlements will be instantaneous and have lower fees compared to traditional payments. This move aims to integrate stablecoins into the financial mainstream and advance their role as a foundational tool for everyday financial activity worldwide.

Mastercard has expanded its partnership with Circle to facilitate stablecoin settlements for merchants across Europe, the Middle East, and Africa (EEMEA). This strategic move allows merchants to settle transactions using USDC and EURC, providing instantaneous and lower-fee alternatives to traditional payments [1].

The collaboration, announced on August 26, 2025, marks a significant step in integrating stablecoins into the financial mainstream. The partnership enables merchants and acquirers in the EEMEA region to benefit from Circle's USDC and EURC stablecoins, which are fully reserved and issued by Circle's regulated affiliates [1].

"This is a key move for Mastercard," said Dimitrios Dosis, president of Eastern Europe, Middle East, and Africa at Mastercard. "Our strategic goal is to integrate stablecoins into the financial mainstream by investing in the infrastructure, governance, and partnerships to support this exciting payment evolution from fiat to tokenized and programmable money. Through our expanded partnership with Circle, we are taking bold steps in integrating their innovative use across our global network" [1].

Circle's Chief Business Officer, Kash Razzaghi, emphasized the potential of stablecoins to bring global access, scale, and borderless trade opportunities. "Expanding USDC settlement across Mastercard’s vast network of acquirers in Eastern Europe, the Middle East, and Africa is a pivotal step toward truly borderless, real-time commerce" [1].

Arab Financial Services (AFS) and Eazy Financial Services are the first companies in the region to utilize this new stablecoin settlement feature. Samer Soliman, CEO of AFS, highlighted the efficiency gains for high-volume settlements, while Nayef Al Alawi, CEO of Eazy Financial Services, underscored the initiative's potential to deliver faster and more secure payment solutions [1].

This partnership aligns with Mastercard's broader strategy to stay at the forefront of payment innovation. The company is actively exploring other stablecoin use cases, including remittances, B2B payments, and payouts for gig workers and creators. The move also comes as giants like Amazon and Walmart explore stablecoins to bypass traditional payment network fees, indicating the competitive pressure to innovate [2].

The integration of stablecoins into Mastercard's network is part of a broader trend in the financial industry. Stablecoins are increasingly seen as a foundational payment and settlement layer, not only in crypto markets but also in global commerce, remittances, and tokenized financial systems. The U.S. GENIUS Act, signed into law in July 2025, has provided regulatory clarity and legitimacy to stablecoins, paving the way for their wider adoption [3].

In conclusion, Mastercard's partnership with Circle to enable stablecoin settlements in EEMEA is a significant step towards integrating stablecoins into the financial mainstream. This move aims to provide merchants with more efficient and cost-effective settlement options, while also positioning Mastercard at the forefront of payment innovation.

References:
[1] https://www.mastercard.com/news/eemea/en/newsroom/press-releases/en/2025-1/august/mastercard-expands-partnership-with-circle-to-transform-digital-settlement-for-merchants-and-acquirers-in-region/
[2] https://coinedition.com/mastercard-brings-usdc-settlement-to-africa-and-the-middle-east-in-a-new-circle-deal/
[3] https://www.pymnts.com/cryptocurrency/2025/3-things-goldman-sachs-thinks-about-stablecoins/