Mastercard announced on the 3rd (local time) the addition of three major stablecoins — USDC, PYUSD, and RLUSD — to its payment settlement network, expanding its digital asset-based payment infrastructure. The global payments company stated it will support stablecoin-based settlement functionality in addition to its existing fiat currency settlement system. This move enables card issuers and acquirers to settle transactions using stablecoins alongside traditional bank accounts, while also introducing weekend and holiday settlement capabilities previously unavailable in the bank-business-day-centered card payment settlement model.
Mastercard Adds USDC, PYUSD, and RLUSD to Settlement Network
Mastercard stated in its announcement that it will support stablecoin-based settlement functionality in addition to its existing fiat currency-centered settlement system. The stablecoins included in this support are USDC (US Dollar Coin), PYUSD (PayPal USD), and RLUSD (Ripple USD). Through this integration, card issuers and acquirers can settle transaction amounts not only through traditional bank accounts but also via stablecoins.
Settlement Expands to Weekends and Holidays
Alongside stablecoin settlement functionality, Mastercard expands settlement to weekends, holidays, and intraday periods. Existing card payment settlement operated primarily during bank business days, but the introduction of this functionality enables a more flexible 24-hour settlement environment.
Mastercard Executive Highlights Settlement Speed and Liquidity
Raj Dhamodharan, Executive Vice President of Blockchain & Digital Assets at Mastercard, stated: "The next phase of stablecoin adoption lies in practical utility, and its value is particularly significant in the settlement sector where speed and liquidity are critical. By introducing intraday and weekend settlement options across our global network, we support partners in managing liquidity more efficiently in an always-on digital economy environment, while maintaining the trust, stability, and protections Mastercard has consistently provided."
FAQ
What stablecoins did Mastercard add to its payment network on the 3rd (local time)?
Mastercard added USDC (US Dollar Coin), PYUSD (PayPal USD), and RLUSD (Ripple USD) to its payment settlement network on the 3rd (local time).
How does Mastercard's stablecoin settlement functionality work?
Card issuers and acquirers can settle transaction amounts using stablecoins in addition to traditional bank accounts, with expanded settlement availability including weekends, holidays, and intraday periods beyond the previous bank-business-day-only model.
