As stablecoins continue to solve real-world challenges and improve efficiencies across a range of use-cases, Mastercard and Circle are deepening their longstanding partnership to enable USDC and EURC settlement for acquirers in the Eastern Europe, Middle East, and Africa (EEMEA) region.
Last year, S1lkPay together with ByBit introduced a new stablecoin settlement model: direct USDC settlement with Mastercard via Circle. This innovation makes transactions instant, efficient, and more convenient for everyone in the ecosystem.
No more crypto-fiat conversion is needed! Use your crypto to pay in the fiat world!
The next step is even bigger:
• USDC top-ups
• Direct USDC settlement with Mastercard
• A non-custodial Web3 card with our partners
This expanded effort marks the first time that the acquiring ecosystem in EEMEA will be able to settle transactions in stablecoins, further cementing Mastercard’s role in connecting blockchain-native crypto assets with traditional fiat commerce infrastructure. Arab Financial Services and Eazy Financial Services will be the first to benefit from this expanded effort.
This move will empower acquiring institutions to get their settlement in USDC or EURC – fully-reserved stablecoins issued by regulated affiliates of Circle – which they can then use to settle with merchants and help pave the way for a new era of efficient and trusted digital trade across emerging markets. This builds upon existing efforts between Circle and Mastercard in the region on crypto card solutions, such as Bybit and S1LKPAY, which use USDC to settle transactions.