Mastercard and Circle to Enable USDC and EURC Settlement

Mastercard, an American payment service provider, is expanding its partnership with Circle, the company behind the popular USDC stablecoin. Together, they aim to simplify the process for businesses in Eastern Europe, the Middle East, and Africa (EEMEA) to settle payments using USDC and ￰0￱ EEMEA Region Has A Lot to Benefit Notably, this step aims to modernize cross-border payment methods and encourage the use of digital currencies in global trade. Additionally, payment processors will be able to pay merchants with digital currencies, making transactions faster, more transparent, and cheaper compared to traditional money ￰1￱ initiative will first benefit Arab Financial Services (AFS) and Eazy Financial ￰2￱ early adopters will use Circle’s digital dollar and euro to make their settlement processes faster and improve cash management.

Importantly, this move aligns with Mastercard’s effort to include blockchain and digital assets in its global payment ￰3￱ EEMEA region is experiencing growth in digital payments, making it a great place for blockchain-based financial ￰4￱ utilizing stablecoin settlements, Mastercard and Circle aim to accelerate this digital ￰5￱ Strike Stablecoin Deal as Adoption Soars In May, Mastercard partnered with MoonPay to facilitate stablecoin payments globally. Interestingly, this is part of Mastercard’s strategy to deepen its roots in the crypto ￰6￱ the outset, the card manufacturer has been quite clear about its intentions to establish an undeniable presence in the digital asset ￰7￱ such, this new blockchain-based protocol’s focus group is retail and institutional ￰8￱ plans to leverage MoonPay’s Iron technology, allowing effective and efficient rails integration to achieve fast crypto ￰9￱ initiative will simplify on-ramp and off-ramp payments, similar to a Venmo or Zelle system.

Furthermore, the partnership provides every crypto wallet instant access to virtual Mastercards for stablecoin-powered ￰10￱ Unveils New Blockchain for Stablecoin Payments Recently, Circle introduced Circle Arc during its Q2 earnings ￰11￱ is a new Layer-1 blockchain designed for stablecoin payments, currency exchange, and other financial market ￰12￱ reported by TheCoinRise, the Arc blockchain network aims to create faster, more secure, and enterprise-grade payment ￰13￱ described Arc as an open, EVM-compatible blockchain built to make stablecoin transactions faster and more ￰14￱ has a built-in tool that lets users change between currencies ￰15￱ can complete transactions in less than a ￰16￱ can also choose privacy settings to keep their operations secure and ￰17￱ is also worth noting that the new layer-1 blockchain will use USDC as its native gas token.

Also, it will be fully integrated into its existing platform and will work seamlessly with partner blockchains already supported by Circle . However, the public testnet for Arc is set to go live later this year.