MasterCard is enabling merchants and acquirers in Eastern Europe, the Middle East, and Africa (EEMEA) to settle transactions in Stablecoins; USDC or EURC for the first time in an effort to incorporate Stablecoins into the financial mainstream by investing in infrastructure, governance, and partnerships.
According to MasterCard, the move was made possible by an extended cooperation with Circle, a global fintech startup that provides blockchain-powered platforms and services such as the USDC stablecoin for payments and digital assets.
This complements Circle and MasterCard's previous efforts in the region on crypto card solutions such as Bybit and S1LKPAY, which employ USDC to settle transactions.
The Arab Financial Services (AFS) and Middle Eastern EazyFinan-cial Services will be the first to profit from this expanded effort, noted Master-Card.
Circle went on to note that spreading USDC settlements across MasterCard's vast network of acquirers in the EEMEA is a critical step towards borderless, real-time commerce, as well as enabling broader reach, global access, and scaled im-pact, enabling the USDC to become as ubiquitous as traditional payments.
Furthermore, the expansion enables acquiring institutions to receive settlement in USDC or EURC, fully-reserved Stablecoins issued by Circle's regulated affiliates, which they can then use to settle with merchants, paving the way for a new era of efficient and trusted digital trade across emerging markets.
“Through our expanded partnership with Circle, we are taking bold steps in integrating its innovative use across our global network. We know that trust is essential to scale, and we are proud to play a leading role by applying our decades of experience in security and compliance to the Stablecoin space,” said Dimitrios Dosis, president, Eastern Europe, Middle East, and Africa, MasterCard.
Nayef Al Alawi, founder, MD, and CEO, Eazy at Financial services, added: “This collaboration with Mastercard and Circle to enable USDC settlement aligns with our mission to deliver faster, more secure, and more efficient payment solutions to our clients.
"This milestone sets a new standard for digital settlement in the region and reflects our commitment to driving financial innovation that meets the evolving needs of merchants and consumers alike.”
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