Mastercard Adds Stablecoin Settlement Support for Merchants

Mastercard Inc. announced that it will give merchants the option to receive payments in stablecoins amid increasing global regulatory clarity on the digital assets that are usually pegged to fiat currencies.

In a press release,Mastercard said it was partnering with firms including payments processor Nuvei and stablecoin issuers Circle and Paxos to enable the payments in the cryptocurrencies.

Lawmakers introduced the bipartisan Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, earlier this year to creates a regulatory framework for stablecoins in the US. The bill passed a Senate committee vote in ...