Mastercard launches stablecoin payment platform after acquiring BVNK for up to $1.8 billion, connecting to hundreds of millions of merchants worldwide

Odaily report: Payment services company Mastercard and fintech company BVNK announced the launch of Global Money Platform on October 15, connecting stablecoin balances to hundreds of millions of merchant locations worldwide and supporting the issuance of payment cards in over 130 countries.

The platform integrates fiat accounts, stablecoin conversion, payment cards, and international payments through a single API, enabling banks, fintech companies, and enterprises to offer accounts that hold both fiat and stablecoins simultaneously. Nuvei, Marqeta, Ontop, Beem, and Almond FinTech have already integrated.

Mastercard Move can connect to over 17 billion payment terminals and convert stablecoin balances into local currency for direct payment to bank accounts. The platform's coverage is planned to expand to over 200 countries and regions and more than 40 currencies by 2027; Mastercard acquired BVNK in August, with the deal valued at up to $1.8 billion. (Bitcoin.com News)