Mastercard has launched the Global Money Platform, a new service allowing businesses to integrate stablecoins into traditional banking and card payments. The service enables companies to hold and convert fiat currencies and stablecoins, offer stablecoin-linked cards, and make payments directly from stablecoin balances to local bank accounts worldwide. Nuvei, Marqeta and several other fintech companies are among the first integration partners, with the platform connecting to Mastercard Move network capable of routing payments to more than 17 billion destinations. This move positions Mastercard in direct competition with Visa, which launched a similar platform last July.
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