Mastercard Bridges Crypto and Commerce with Stablecoin Settlements

Mastercard has launched a new initiative to enable merchants and acquirers in the Eastern Europe, Middle East, and Africa (EEMEA) region to accept and settle transactions in USDC and EURC, two stablecoins pegged to the U.S. dollar and the euro, respectively. This move marks the first time that the acquiring ecosystem in EEMEA can settle transactions in stablecoins, further bridging the gap between blockchain-native assets and traditional fiat commerce infrastructure. Arab Financial Services and Eazy Financial Services are the first acquirers to benefit from the initiative [1].

Under this expanded partnership with Circle, a regulated issuer of stablecoins, acquirers can now receive their settlement amounts in USDC or EURC, which are fully reserved and backed by real-world assets. These stablecoins can then be used to settle with merchants, streamlining digital trade and reducing settlement frictions in high-volume transactions. The initiative builds on previous collaborations between Mastercard and Circle, which include crypto card solutions like those offered by Bybit and S1LKPAY, which also utilize USDC for transaction settlements [1].

Dimitrios Dosis, President of Mastercard for EEMEA, emphasized the strategic importance of this development. He noted that Mastercard is actively investing in infrastructure and governance to bring stablecoins into mainstream financial systems. This initiative aligns with the company’s broader vision of integrating tokenized and programmable money into everyday commerce. Kash Razzaghi, Chief Business Officer at Circle, added that the partnership aims to make USDC as ubiquitous as traditional payments by expanding its reach and global access [1].

The initiative is also aligned with growing consumer interest in crypto. Mastercard’s Global Crypto Adoption Index reveals that 58% of global consumers are either holding cryptocurrency or are crypto-curious, with the EEMEA region scoring 49—above the global average of 35. Younger generations, including Millennials and Gen Z, as well as higher-income users, are particularly engaged with digital assets. The report highlights a shift in consumer expectations, with many now seeking to use crypto for everyday transactions rather than just speculation [3].

To support this transition, Mastercard is broadening its portfolio of regulated stablecoins beyond USDC to include alternatives like Paxos’ USDG, Fiserv’s FIUSD, and PayPal’s PYUSD. The company is also working on use cases in remittances, B2B transactions, and payouts to gig workers and content creators through platforms like Mastercard Move and the Multi-Token Network (MTN). These efforts are underpinned by Mastercard’s security frameworks, including Crypto Credential and Crypto Secure, which ensure that stablecoin transactions meet industry standards for compliance and safety [1].

As stablecoins gain traction across EEMEA and beyond, Mastercard’s approach emphasizes scalability, regulatory alignment, and real-world utility. The company’s commitment to innovation and secure infrastructure is helping to establish a more efficient, digital-first payments landscape, particularly in emerging markets where financial inclusion and liquidity are critical challenges. The initiative underscores the growing relevance of stablecoins in the global payments ecosystem and reflects Mastercard’s leadership in integrating digital assets with traditional financial systems [2].

Source:

[1] Mastercard expands partnership with Circle to transform digital settlement for merchants and acquirers in region (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] Mastercard and Circle to boost digital settlement (https://thepaypers.com/crypto-web3-and-cbdc/news/mastercard-and-circle-to-transform-digital-settlement-for-acquirers-in-eemea)

[3] EEMEA | Mastercard Newsroom (https://www.mastercard.com/news/eemea/en/newsroom/press-releases/en/2025-1/august/mastercard-unveils-global-insights-on-cryptocurrency-trends-and-adoption/)