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MoonPay Mastercard Launch Crypto Card, Allowing Users to Make Merchant Payments With Stablecoins
The partnership is set to allow crypto wallets to issue virtual Mastercards, expanding access to real-world stablecoin payments
What to know:
- MoonPay and Mastercard will enable stablecoin payments across 150 million global businesses.
- Crypto wallets will gain access to virtual Mastercards for spending digital dollars
- The move builds on Mastercard’s push to streamline digital asset transactions.
MoonPay has partnered with Mastercard to let users spend stablecoins at more than 150 million merchants worldwide, the company announced on Thursday.
The integration means that users of “every crypto wallet” will be able to access virtual Mastercards that draw directly from their stablecoin balances. The cards can be used at any merchant in Mastercard’s network.
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The rollout comes amid a broader trend. Mastercard has last month unveiled end-to-end stablecoin capabilities as it moves deeper into the cryptocurrency economy, and partnered with OKX to launch a debit card with the exchange.
Similarly, crypto exchange Kraken teamed up with Mastercard to let its users in the UK and Europe spend their cryptocurrency at any merchant in the payments giant’s network.
Earlier this year, Mastercard also began supporting tokenized real-world assets (RWAs) on its network through a partnership with Ondo Finance, which offers tokenized U.S. Treasury bills.
UPDATE (May 15, 14:00 UTC): updates headline.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
