INSTITUTIONAL | MasterCard Expands Stablecoin Settlement Network to Include USDC, PYUSD and RLUSD

Payments giant, MasterCard, has announced that it will allow card issuers and acquiring banks to settle transactions using several regulated U.S. dollar-backed stablecoins expanding its push into on-chain payments infrastructure.

The company said it will support settlement using

• Circle’s USDC,
• PayPal USD (PYUSD),
• Ripple’s RLUSD,
• SoFiUSD,
• Paxos-issued USDG, and
• USDP

across a range of blockchain networks including

• Ethereum,
• Solana,
• Polygon,
• Base,
• Arbitrum, and
• XRP Ledger.

MasterCard said the move will give financial institutions the option to settle card transactions using stablecoins alongside traditional fiat payment rails, enabling intraday, weekend, and holiday settlement outside conventional banking hours.

“As demand grows for faster and more flexible movement of money, organizations are increasingly seeking infrastructure that can operate beyond traditional banking hours,” said Kash Razzaghi, chief commercial officer, Circle.

“Mastercard’s expanded settlement capabilities help meet that need, offering greater choice in how value is transferred and settled. We’re proud to support these efforts through USDC and help advance the use of regulated stablecoins in global payments.” 

The rollout is part of Mastercard’s broader effort to build what it describes as an “always-on” payments infrastructure as stablecoins gain traction among banks, fintech firms, and payment providers seeking faster and cheaper cross-border settlement.

Among the first institutions expected to adopt the capability are ARQ, CBW Bank, Cross River, Lead Bank, and payment processor, Nuvei, in the United States and Latin America, MasterCard said.

“We’ve seen firsthand the accelerating demand from our partners for faster, more transparent settlement – and stablecoins have emerged as a powerful tool to meet that need,” said Luca Cosentino, Head of On-Chain Finance at Cross River.

“Mastercard’s decision to bring on-chain settlement to its global network validates what we’ve been building toward: a future where digital asset rails operate seamlessly alongside traditional payments infrastructure. Cross River is thrilled to be at the forefront of this evolution.”

The announcement marks one of the largest integrations of regulated stablecoins into a global card settlement network and underscores growing efforts by traditional financial firms to incorporate on-chain payment rails into existing payment systems.

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