Mastercard today announced plans to make it easier to settle transactions by expanding its intraday, weekend, and holiday settlement capabilities via regulated stablecoins. Settlement with fiat currency is also supported. The goal is to offer greater flexibility for card issuer banks and merchant acquirer financial institutions, which have to manage settlement timing and liquidity without disrupting existing processes. Mastercard said these upgrades are particularly relevant to settlements where stablecoins bring big benefits, including cross-border payments, corporate treasury management, and liquidity needs outside of traditional banking hours. Mastercard will support settlement using Circle’s USDC, Ripple’s RLUSD, SoFi’s SoFiUSD, and three Paxos-issued stablecoins: USDG, USDP, and PayPal’s PYUSD. These stablecoin payments will…
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MoonPay Launches Mastercard for AI Agents
MoonAgents Card will draw on an onchain wallet
Crypto payments firm MoonPay has launched a new virtual debit Mastercard designed for AI agents as well as human users. Using stablecoins and offering merchants payment in fiat, the MoonAgents Card is accepted at any online merchant across 210 countries that accepts Mastercard. The card is issued through Monavate, a regulated global payments platform and principal member of the Mastercard network. The launch comes just a day after digital wallet and payment app startup Oobit announced the launch of a new stablecoin-backed corporate Visa debit card designed for AI agents. Unlike the Oobit card, the MoonAgents Card does not require users to pre-load a custodial balance in stablecoins, but rather…
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Mastercard Accepting Crypto Payments
A Look Into Cryptocurrency in The Asia-Pacific Region
On November 8, 2021, Mastercard made an important announcement regarding their payment systems in the Asia-Pacific region. Because of the company’s partnerships with Amber Group, Coinjar, and Bitkub, anyone in the region will now be able to apply for a crypto-linked Mastercard. This will allow users to instantly convert their cryptocurrency into fiat dollars which they can spend wherever you can use a normal card. This doesn’t mean that people will be paying for their purchases in Bitcoin (BTC) or other coins, but instead Mastercard does an instant transfer from crypto to fiat. This allows for buyers to use the card at any merchant that accepts normal cards, which gives…
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With new leadership and more financial giants entering crypto, the time for regulation is now says SEC Commissioner Hester Peirce (Photo: SEC)Clear crypto regulation urgent as big finance jumps in: SEC’s ‘Crypto Mom’
Securities and Exchange Commissioner Hester Pierce believes that giants such as Tesla and MasterCard using crypto make regulating this asset class urgent
Peirce pointed out that while “there have been calls for clarity for some time, a new administration brings the chance to take a fresh look, but it also is a moment where it seems others in the marketplace are also taking a fresh look.”
