Mastercard to Leverage MoonPay for Stablecoin Payment
Mastercard recently disclosed that it is developing a blockchain-based protocol to facilitate crypto transactions among retail and institutional users. The initiative would simplify on-ramp and off-ramp payments, with the firm likening it to a Venmo or Zelle-like system.
Today, it aims to make stablecoin payments available to millions of users globally. At the center of this new initiative is MoonPay’s Iron technology, an infrastructure platform that provides stablecoin payment APIs, allowing merchants and fintechs to integrate rails for swift crypto payments. Notably, MoonPay acquired the firm in March 2025.
MoonPay stressed that the integration will give every crypto wallet instant access to virtual Mastercards for stablecoin-powered transactions. Meanwhile, stablecoin adoption has continued to swell as traditional finance acknowledges the crypto’s potency in several applications, including payments.
The fiat-pegged digital asset sector has grown to a $245 billion industry amid increasing traction. In 2024, stablecoin transfer volume reached $27.6 trillion, trouncing the combined volume of Visa and Mastercard.
Easing Stablecoin Regulation
Meanwhile, two stablecoin bills recently gained Congress approval as the United States facilitates efforts to create a regulatory framework. The STABLE Act and $GENIUS Act could soon be passed into law pending the decision from the full House floor. However, it bears mentioning that the $GENIUS Act recently faced a major hurdle in Congress.
In the meantime, the stablecoin industry still has hovering uncertainties around its classification. While the US Securities and Exchange Commission has attempted to classify the currency as non-security, its exemption of algorithmic stablecoins failed to clear the lingering doubts.
Nonetheless, the regulator recently dropped charges against PayPal’s stablecoin (PYUSD), reflecting its friendly disposition towards the sector.
thecryptobasic.com
