Mastercard Unveils Stablecoin Settlement Support Spanning 8 Blockchains, Including The XRP Ledger

Mastercard said Wednesday it plans to open its global card-settlement network to regulated stablecoins, a move designed to let card issuers and acquirers clear card transactions directly on-chain. The company says the service will operate across eight different blockchains, extending on what it describes as “real-world utility” for digital assets. Alongside the expanded on-chain settlement approach, Mastercard also plans to introduce intraday, weekend, and holiday settlement cycles. Mastercard Moves Toward On-Chain Settlement In its announcement, Mastercard said the stablecoins include Tether’s rival, Circle, and its USDC stablecoin, which Mastercard noted is already supporting early on-chain settlement activity in select markets. Mastercard also listed stablecoins issued by Paxos, including PYUSD, USDG, and USDP. In addition, the company cited Ripple’s RLUSD and SoFi’s SoFiUSD as part of the initial stablecoin lineup for the network. Related Reading: Bitcoin Crash Explained: Binance Research Blames Outflows Toward US Equities The stablecoins will be enabled across a broad set of supported blockchain networks, including Arbitrum (ARB), Base, Canton, Ethereum (ETH), Polygon (POL), Solana (SOL), Tempo, and the XRP Ledger (XRPL). Mastercard did not describe any changes to the type of partners who can benefit from the network, but it said the plan will allow customers to use both traditional payment settlement and digital-asset-based settlement through the same infrastructure they use today. More Networks And Assets Planned Through 2026 Raj Dhamodharan, executive vice president of Blockchain Digital Assets at Mastercard, said the company views the next stage of stablecoin adoption as being about practical use in areas where timing and liquidity matter. The executive pointed specifically to settlement as a key factor, and he described intraday and weekend options as a way for partners to better manage liquidity in an always-on digital economy. Related Reading: Crypto In 401(k)s: Senators Sanders, Warren Letter Warns 14 Trillion At Risk From DOL Proposal Mastercard added that the expanded capabilities will roll out globally “subject to regulation.” The company said the initial deployment will be limited to “parts of the United States and Latin America.” The payment giant indicated that additional regions, partners, and regulated stablecoins will be added through 2026, as its stablecoin settlement offering expands beyond the initial rollout areas. Featured image created with OpenArt; chart from TradingView.com