Mastercard has partnered with MoonPay, a cryptocurrency payment solutions provider, to allow global stablecoin transactions using Mastercard-branded cards.  

This move aims to enable users to spend their digital currency at over 150 million locations globally where Mastercard is accepted. 

The partnership utilises Iron’s API-driven stablecoin infrastructure, which MoonPay acquired in March, to facilitate payments for businesses and convert crypto wallets into digital bank accounts for cross-border money transfers.  

Additionally, it will enable businesses to offer stablecoin-based payments to gig workers, contractors, and creators. 

By combining Mastercard’s international payments network with MoonPay’s crypto economy connections, the alliance seeks to deliver payment solutions to both merchants and consumers. 

MoonPay has integrations over 500 crypto platforms and anticipates the combined reach extends to over 100 million active crypto users. 

Mastercard global partnerships executive vice president Scott Abrahams said: “By providing solutions that unlock stablecoin utility and ubiquity, we are redefining how money moves globally and driving a shift in payments as we know it. Together with MoonPay, we’re building innovative and secure connectivity between crypto and mainstream finance ecosystems, grounded by trust and driven by scale.”  

MoonPay CEO and founder Ivan Soto-Wright stated: “MoonPay serves the largest crypto wallets in the industry, and with Mastercard, we’re bringing convenient, trusted stablecoin-enabled cards to crypto users around the world. Our acquisition of Iron and long-standing relationship with Mastercard allow us to power a new era of payments made with stablecoins at more than 150 million merchant locations worldwide.”  

In March, MoonPay has secured a $200m revolving credit facility from Galaxy, a crypto-focused financial services firm.