Mastercard has announced the next phase of its partnership with Circle, enabling acquirers in Eastern Europe, the Middle East, and Africa (EEMEA) to process payments in USDC and EURC stablecoins.
An acquirer is a bank or financial institution that processes payments for merchants or provides them with cash. This partnership brings blockchain-based payment technology fully in line with Mastercard’s fiat payment channels, according to the company.
Mastercard and Circle Expand Stablecoin Payments
Mastercard Inc. is broadening its partnership with Circle Internet Financial Ltd. to allow acquirers in Eastern Europe, the Middle East and Africa to settle transactions in Circle’s USDC and EURC stablecoins. The move expands earlier pilots and is designed to cut foreign-exchange costs and speed up settlement for merchants handling cross-border payments on Mastercard’s network.
Circle separately said it will integrate USDC into the payments infrastructure of fintech provider Finastra, whose systems process more than $5 trillion in cross-border flows each day for banks worldwide. The integration will let thousands of financial institutions use the dollar-pegged token for near-instant settlement alongside traditional rails.
The twin agreements underscore the growing role of regulated stablecoins in mainstream payments. Industry data show that combined stablecoin volumes now exceed those of Visa and PayPal, highlighting pressure on incumbent networks to adapt their offerings.
First Partners and Benefits for Businesses
The first partners in the initiative are Arab Financial Services and Eazy Financial Services, both financial service providers. They will be able to accept payments in USDC and EURC stablecoins issued by Circle.
The initiative aims to improve cross-border payment efficiency and reduce costs, particularly benefiting businesses in developing countries that often face higher transaction fees and slower settlement times.
Mastercard’s Growing Stablecoin Support
Mastercard continues to support the global development of stablecoins. Beyond USDC, the company supports a growing portfolio of regulated stablecoins from leading issuers, including USDG (Paxos), FIUSD (Fiserv), and PYUSD (PayPal), signaling a strong commitment to the evolving digital currency ecosystem.
