Mastercard links stablecoin balances to bank accounts and card payments

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Mastercard has launched a platform allowing businesses to connect stablecoin balances with traditional banking and card payment services, expanding its digital asset infrastructure.

Called Global Money Platform, the service is Mastercard’s first major integration with stablecoin infrastructure provider BVNK since its acquisition in August. Businesses can use it to hold and convert fiat currencies and stablecoins, issue stablecoin-linked cards and transfer funds directly to recipients’ local bank accounts.

The platform connects to Mastercard Move, which can route payments to more than 17 billion destinations, and Mastercard’s merchant network. Nuvei and Marqeta are among the first integration partners.