Mastercard Partners OKX y6t5n Nuvei to Launch Payment Ecosystem for Stablecoins

Mastercard says merchants will be able to receive payments for purchases made by customers using stablecoins. 3rd59

Written by David Delima | Updated: 29 April 2025 13:00 IST

Mastercard Partners OKX, Nuvei to Launch Payment Ecosystem for Stablecoins

Photo Credit: Pixabay/ Alina Kaptsova 1p2h4x

Mastercard s will be able to spend stablecoins via traditional cards

Highlights

Stablecoins are crypto assets pegged to underlaying reserved asset
Mastercard has predicted a strong growth for stablecoins
The company has teamed with multiple crypto players in recent years

ment

Mastercard has announced a payment ecosystem allowing buyers and merchants to make and receive payments using stablecoins. The US-based card payment giant teamed up with Seychelles-headquartered OKX crypto exchange to launch a new card, while another partnership with Canadian payment processing firm Nuvie will allow businesses to accept stablecoin payments. Stablecoins are crypto assets that derive their values from underlying reserved assets like a fiat currency – which shields them from extreme market volatility and makes them usable for day-to-day payments.

Tether (USDT) and Circle (USDC) are examples of stablecoins, both of which are pegged to the US dollar and maintain their values in a 1:1 ratio with the US dollar. Mastercard says through its new system, stablecoin settlements will be made available at over 150 million merchant locations globally.

Mastercard Enables Stablecoin Payments via OKX Card s81s

Mastercard said that stablecoins are bringing efficiency and programmability to payments, disbursements, and remittances. It also said that banks and fintech firms are increasingly ramping up their efforts to explore stablecoin-related services.

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As part of this ecosystem development, Mastercard s will be able to spend stablecoins via a new OKX card for day-to-day purchases. s will also be able to convert and withdraw their stablecoins into fiat currencies.

The company also said that through its collaboration with Nuvei and Circle, merchants will be able to receive their payments in stablecoins, “regardless of how a consumer chooses to pay”.

In the past, Mastercard has teamed up with multiple crypto players like MetaMask, Kraken, Gemini, Bybit, Crypto.com, Binance, Monavate, Bleap, and Paxos. s of all these platforms will be able to tap into this stablecoin ecosystem to explore potential use cases. The aim is to make the use of stablecoins as convenient as the use of cash stored in any bank , the firm noted.

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Earlier this month, Mastercard said it was Floki Inu to launch a debit card enabling crypto spending via cards.

1inch are other Web3 firms that Mastercard has collaborated with in recent years to explore crypto-centric service offerings.

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Further reading: Nuvie

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at [email protected]. More