New Collaboration Enable Spending $USDC through Mastercard Netwrok

Reported Cointelegraph, global payment provider Mastercard has announced a collaboration with Australian stablecoin platform Stables to launch a stablecoin digital wallet.

The collaboration involves a stablecoin-only wallet developed by Stables, which comes with a payment card supported by Mastercard. The payment card enables users to spend their USD Coin ($USDC) stablecoin anywhere Mastercard is accepted. The wallet will be accessible through the Stables digital application via mobile wallets.

The Mastercard-enabled wallet integration will become available for users in Q2 2023 in Australia and will eventually expand to Europe, the United States, the United Kingdom, and most of the APAC region. The payment solution deploys Stables' proprietary settlement engine that processes all payments using $USDC and works directly with Mastercard to enable settlement.

In addition to crypto, users can also top up their balances using bank transfers, direct debit, and other modes of payment.

This collaboration between Mastercard and Stables will offer users a more convenient and secure way to spend their digital assets. It is expected to drive the adoption of stablecoins and contribute to the growth of the Web3 sector.

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