Mastercard and Circle Redefine Settlement With Stablecoin Push in EEMEA

Mastercard has announced an expanded partnership with Circle to enable stablecoin-based settlement for acquiring institutions in the Eastern Europe, Middle East, and Africa (EEMEA) region. Under this initiative, acquirers can now settle transactions in USDC and EURC, two stablecoins issued by Circle through its regulated entities. This marks a pivotal step in integrating blockchain-native assets into the traditional payments infrastructure, with Arab Financial Services and Eazy Financial Services being the first to adopt the solution. The expansion builds upon an existing collaboration between the two firms in the EEMEA region, which previously focused on crypto card solutions such as Bybit and S1LKPAY, also utilizing USDC for transaction settlements [1].

The new capability allows acquiring institutions to receive their settlement balances in stablecoins, which can then be used to settle with merchants, streamlining liquidity management and reducing operational friction. This move aligns with Mastercard’s broader strategy to position stablecoins as a foundational component of the digital commerce landscape, particularly in emerging markets where cross-border and real-time payments are increasingly important. According to Dimitrios Dosis, President of EEMEA at Mastercard, the firm’s approach is centered on leveraging decades of experience in security and compliance to scale stablecoin adoption while ensuring trust and regulatory alignment [1].

Circle, on its part, has emphasized that this collaboration is a significant step toward realizing the potential of stablecoins in facilitating borderless commerce. Kash Razzaghi, Circle’s Chief Business Officer, stated that the partnership will enable greater reach and global access for USDC, making it as ubiquitous as traditional payment instruments. The integration also complements Circle’s recent efforts to expand USDC’s usage, including partnerships with Finastra and OKX, and meetings with major South Korean banks to explore onchain integrations and potential stablecoin offerings [1].

The initiative is supported by Mastercard’s robust infrastructure, which includes tools such as Crypto Credential and Crypto Secure, designed to ensure that stablecoin transactions meet the highest standards of security and compliance. The company is also advancing use cases across remittances, B2B transactions, and payouts to gig workers and creators through platforms like Mastercard Move and the Multi-Token Network (MTN). Alongside USDC, Mastercard is working with other regulated stablecoin issuers such as Paxos, Fiserv, and PayPal to diversify the stablecoin portfolio available to its global network [1].

Industry stakeholders have responded positively to the development. Arab Financial Services, one of the first adopters, highlighted the operational efficiency gains from using USDC for settlement, noting that the solution addresses key pain points in high-volume payment processing. Similarly, Eazy Financial Services praised the innovation for enabling faster and more secure payment solutions for its clients. These early adopters exemplify the growing demand for digital settlement solutions in the EEMEA region, where the adoption of tokenized and programmable money is gaining momentum [1].

The expansion underscores the increasing role of stablecoins in bridging the gap between traditional and digital finance, particularly in regions with evolving payment ecosystems. As the EEMEA market continues to explore digital transformation, the integration of USDC and EURC into Mastercard’s settlement network positions the region as a testing ground for future innovations in tokenized commerce. With continued support from both institutional and consumer-facing partners, the initiative could set a precedent for broader stablecoin adoption in emerging markets [1].

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 Enable Stablecoin Settlement in ... (https://www.pymnts.com/cryptocurrency/2025/mastercard-circle-enable-stablecoin-settlement-eemea-region/) [3] Circle pushes USDC deeper into global payments with ... (https://cointelegraph.com/news/circle-usdc-payments-new-deals-mastercard-finastra) [4] 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) [5] Alan Ferguson's Post (https://www.linkedin.com-posts/aiferguson_mastercard-x-circle-delighted-to-activity-7366322325635448832-4JQ2)