Stablecoin technology has an exceptionally bright future. Which is exactly why Mastercard is cutting a new deal to be on the leading edge of it.
What’s happening:
- MoonPay and Mastercard (NYSE: MA) have formed a new global partnership focused on using stablecoins for payments
Why it matters:
- Mastercard has publicly stated they intend to launch payment cards that are linked to an individual’s stablecoin wallet and will enable instant conversion from stablecoins to fiat at the point of sale with any merchant who currently accepts Mastercard
Going deeper:
- The new payment cards from Mastercard will leverage stablecoin infrastructure known as Iron, which was acquired outright by MoonPay to expand their ability to enable businesses to process payments through stablecoins
- MoonPay has quickly become one of the most important companies in crypto for bridging fiat into digital assets and has landed some of the world’s biggest venture capital funds as investors, including Tiger Global Management, Coatue Management and Thrive Capital
The intrigue:
- Stablecoin technology continues to be on the rise, which has recently led to the launch of multiple new stablecoins including World Liberty Financial’s rapidly growing stablecoin USD1
