PURCHASE, N.Y.—Following Fiserv’s announcement that it has stepped into the stablecoin space, Mastercard has now joined the Global Dollar Network, a stablecoin consortium formed by Paxos in 2024.
Current members include Robinhood, Kraken and Visa. The consortium allows members to mint USDG—a U.S. dollar-pegged stablecoin backed by U.S. Treasuries—with interest earned on reserves distributed among participants.
Mastercard announced it will integrate multiple stablecoins— including PayPal’s PYUSD, the Paxos-backed USDG, and Fiserv’s new FIUSD—into its global network, which already supports Circle’s USDC. It’s also rolling out stablecoin-based cross-border payments via Mastercard Move.
The company added that it's partnering with Fiserv to integrate FIUSD into its card products, on- and offramps, and merchant settlements. Consumers will be able to spend both fiat and stablecoin balances through a unified interface using Mastercard One Credential, CoinDesk noted.
“Each wave of payments innovation has reaffirmed a simple truth: Consumers and merchants adopt solutions that are convenient, secure and dependable,” said Mastercard Chief Product Officer Jorn Lambert. “We don’t see stablecoins disrupting this dynamic — in fact, they reinforce it. Stablecoins hold tremendous promise but should be held to that same simple but high standard.”
Lambert noted there is still work to be done to fully realize the promise of stablecoins.
“That’s why we’re bringing our expertise, unparalleled network, state-of-the art services and leading partnerships to bear to integrate stablecoins into the financial mainstream with a vision of making them as seamless and ubiquitous as traditional forms of payment,” he explained. “Mastercard has recognized the potential of stablecoins for years.
“And we’re not just enabling stablecoin spending — we’re expanding how over 3.5 billion Mastercard cards in circulation can securely engage with crypto,” Lambert continued. “Major exchanges such as Binance, Bybit and Coinbase accept Mastercard for crypto purchases. Merchants, gig workers and creators can also choose to receive their payouts in the stablecoin of their choice — regardless of the currency used at checkout.”