Quick Breakdown
- Mastercard Deal: Enables USDC and EURC settlement for merchants in EEMEA.
- Finastra Integration: Brings USDC into a $5T-per-day payments network serving 50+ countries.
- Global Push: Circle deepens ties in Asia and Japan, aligning with the new U.S. stablecoin framework.
Circle is taking another step to embed stablecoins into global financial infrastructure, announcing fresh partnerships with Mastercard and Finastra. The move is set to widen the use of USD Coin (USDC) and Euro Coin (EURC) in cross-border settlement, bringing stablecoin payments closer to mainstream adoption.
Mastercard Opens Stablecoin Settlement in EEMEA
Mastercard revealed on Wednesday that it will enable acquirers and merchants across Eastern Europe, the Middle East and Africa (EEMEA) to settle transactions in USDC and EURC.
Arab Financial Services and Bahrain-based Eazy Financial Services will be the first adopters, making Mastercard the first major payment processor to roll out stablecoin settlement in the region.
Finastra Integrates USDC Into $5 Trillion Payments System
London-based financial software firm Finastra also confirmed it is embedding USDC into its Global PAYplus platform, which processes more than $5 trillion in daily cross-border transactions.
The integration will allow banks in over 50 countries to settle international payments in USDC, even when payment instructions remain in traditional fiat currencies.
Expanding Global Stablecoin Footprint
Circle’s latest partnerships follow a string of global initiatives aimed at strengthening USDC adoption. In July 2024 Circle partnered with crypto exchange OKX to offer zero-fee conversions between USDC and US dollars, boosting global liquidity and improving fiat on-and-off ramps for users worldwide.
Also in August 2024 Circle executives held talks with South Korea’s largest banks on potential stablecoin integrations, including a possible won-backed stablecoin. In Japan, Circle joined SBI Group, Ripple and Startale to promote USDC adoption and build a tokenized asset platform.
These moves are unfolding in the wake of the GENIUS Act, the first U.S. federal framework for stablecoins, signed into law in July 2024 by President Donald Trump. The act sets strict requirements around who can issue stablecoins, how they must be backed and what disclosures are required.
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