Mastercard Moves to Settle Card Payments Using Stablecoins
Cointelegraph
Mastercard is integrating regulated stablecoins into its back-end infrastructure to modernize and streamline the settlement process for card transactions.Summary
Mastercard is updating its payment infrastructure by integrating regulated stablecoins, such as SoFiUSD, to facilitate the back-end settlement of card transactions between banks. Partnering with SoFi Technologies and Galileo, the company aims to leverage its Multi-Token Network to allow financial institutions to settle obligations using digital dollars. This initiative focuses on the clearing stage of payments, ensuring that while the underlying settlement becomes faster and more efficient through blockchain technology, the consumer payment experience remains unchanged.
(Source：Cointelegraph)