Mastercard on Wednesday announced that it is expanding its stablecoin service network across multiple blockchains. This always-on service will now support stablecoin payments across blockchains including Solana, Base, Polygon, Ethereum, Arbitrum, and XRPL, the cards giant said in its statement.
Stablecoins are digital assets which derive their values from the reserved, stable assets that they are pegged to in 1:1 ratio. At present, USD-backed stablecoins like USDT and USDC dominate the market followed by others that are tied to assets like gold and other fiat currencies. The main offerings these assets bring to the table are instant cross border settlements, irrespective of holidays or timinings, as well as next-to-nil transaction fee. Being based on blockchains, stablecoin transactions leave a permanent and immutable record that adds more transparency to the financial ecosystem.
Now that stablecoins are heavily regulated in economies like the U.S. and the E.U., Mastercard said, real-world utility for these tokens especially in settlements will play a crucial role in driving adoption.
“By introducing intraday and weekend on settlement options across our global network, we’re expanding how partners manage liquidity and operate in an always-on digital economy,” said Raj Dhamodharan, executive vice president, Blockchain and Digital Assets at Mastercard.
Regulated assets including USDC, PYUSD, USDG, USDP, RLUSD, and SoFiUSD are among the supported stablecoins under Mastercard’s updated settlement service.
Commenting on the development, Circle’s chief commercial officer Kash Razzaghi said, “As demand grows for faster and more flexible movement of money, organizations are increasingly seeking infrastructure that can operate beyond traditional banking hours. astercard’s expanded settlement capabilities help meet that need.”
Solana and Ripple’s XRPL also shared about their support being added to Mastercard’s stablecoin settlement service on X.
The service will first be rolling out in the U.S. as well as in Latin America. Mastercard has handpicked CBW Bank. Lead Bank, Nuvei, and ARQ to support its stablecoin settlement option in the regions.
The expansion of this service to other international locations will continue throughout 2026.
With this development, Mastercard has essentially carved a bigger space for itself as a trusted facilitator of stablecoin payments internationally. Visa, PayPal, and Stripe are among other payment platforms introducing their own stablecoin settlement options intensifying competition in the market.