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IN this week’s Crypto Corner, the Moneybrain team explores moves in the payments and settlement space, with a spotlight on Mastercard, a global leader in payments, and its push to bring stablecoins into mainstream finance.
Mastercard’s stablecoin revolution
With increasing global regulatory clarity, stablecoins are evolving from niche crypto curiosities to powerful solutions for everyday payments and settlements. Mastercard is among the frontrunners introducing end-to-end stablecoin capabilities, allowing consumers to spend stablecoins as easily as GBP or USD at more than 150 million merchant locations worldwide.
Through partnerships with Canadian fintech Nuvei and Circle, the issuer of USDC, Mastercard enables merchants to receive payouts in stablecoins like USDC, even if consumers pay in fiat (eg via a traditional debit card). This creates faster, cheaper and less burdensome settlements, benefiting merchants and consumers alike.
How does it work for consumers?
For consumers, spending stablecoins starts with a crypto-enabled Mastercard, such as those issued by local wallet providers or exchanges, linked to a digital wallet holding Jersey-based stablecoins. For example, a prepaid Mastercard, similar to the Covid-19 stimulus card previously issued in Jersey, could now be issued in GBPB stablecoin via Moneybrain’s crypto exchange, using end-to-end stablecoin functionality. This would enable greater tracking and analysis of how stimulus payments circulate through the local economy, offering valuable insights into their effectiveness and impact.
What is a stablecoin?
A stablecoin is a digital currency pegged to a stable asset, like GBP or USD, typically backed 1:1 by regulated reserves (eg cash or liquid assets). This ensures stability, making stablecoins ideal for payments, remittances and settlements.
Moneybrain’s stablecoin vision
At Moneybrain, we’re proud to be part of this stablecoin revolution. Last year, we launched our own stablecoins, pegged to GBP, USD, EUR and AUD, allowing you to hold and spend in the currency of your choice. We’ve trialled payments with local business Pebble, offering lower transaction fees and passing savings to customers.
Join us to hold Moneybrain stablecoins. Set up your account today at , available on Apple and Android.
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