Mastercard to Launch a Card With OKX

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Mastercard is deepening its involvement in the digital asset economy by launching global capabilities to support stablecoin payments across its extensive merchant network, the company announced Monday.

Teaming up with crypto exchange OKX, Mastercard is introducing the “OKX Card,” aimed at connecting crypto trading and Web3 activities with everyday spending.

Merchants will soon be able to settle transactions directly in stablecoins like Circle’s USDC through partnerships with Nuvei and Circle. Paxos will help extend this feature to other stablecoins like USDP.

Jorn Lambert, Mastercard’s chief product officer, stated, “The benefits of blockchain and digital assets for mainstream use are clear. To harness their potential, it’s essential to make stablecoin payments easy for both merchants and consumers. We see the potential of stablecoins to streamline payments and commerce, providing people and businesses the choices they deserve.”