PANews reported on April 29 that according to The Block, payment giant Mastercard is taking action to allow consumers to spend stablecoins and enable merchants to receive payments in stablecoins. In a press release issued on Monday, they stated: "To enable consumers and businesses to use stablecoins as conveniently as funds in a bank account, Mastercard is providing a comprehensive, integrated solution. Consumers will be able to earn rewards, pay, and use stablecoins from crypto wallets at over 150 million Mastercard-accepting merchants worldwide, and can also use Mastercard Move to withdraw stablecoins to their own bank accounts."
Mastercard said that in addition to partnering with crypto exchange OKX to issue cards, they are also working closely with stablecoin issuers Circle and Paxos to enable merchants to receive payments in stablecoins.
