{"id":17472,"date":"2023-03-20T23:10:58","date_gmt":"2023-03-20T23:10:58","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/"},"modified":"2023-03-20T23:11:00","modified_gmt":"2023-03-20T23:11:00","slug":"mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/","title":{"rendered":"Mastercard to settle transactions for stablecoin wallet in APAC"},"content":{"rendered":"<div data-v-48054ca8=\"\">\n<p>Global payment provider Mastercard is launching a stablecoin digital wallet integration with the Australian stablecoin platform Stables.<\/p>\n<p>Mastercard and Stables on March 20 announced a collaboration to allow retail customers in the Asia-Pacific (APAC) region to spend their stablecoins anywhere Mastercard is accepted.<\/p>\n<p>The collaboration involves a stablecoin-only wallet built by Stables, coming with a payment card supported by Mastercard. The payment card enables users to save and spend the USD Coin (USDC) stablecoin by converting the digital currency into fiat and settling on Mastercard\u2019s network. The card will be accessible through the Stables digital application via mobile wallets.<\/p>\n<figure><figcaption style=\"text-align: center;\"><em>Source: Stables<\/em><\/figcaption><\/figure>\n<p>According to Mastercard Australasia\u2019s head of fintech, Kallan Hogan, the company\u2019s collaboration with Stables is a significant development in terms of Web3 adoption.<\/p>\n<p>\u201cMastercard is committed to powering innovative payment solutions that give cardholders the freedom to spend their assets where, how, and when they want,\u201d Hogan said, adding:<\/p>\n<blockquote><p>\u201cStables is building a solution for the Web3 sector leveraging Mastercard\u2019s global network and cyber and intelligence tools, including CipherTrace and Ekata, with trust and security at the core.\u201d<\/p><\/blockquote>\n<p>The Mastercard-enabled wallet integration will become available for users in the second quarter of 2023, Stables co-founder and CEO Daniel Li told Cointelegraph. The stablecoin digital Mastercard will be initially available for users based in Australia and is then planned to enter Europe, the United States, the United Kingdom and most of Asia Pacific.<\/p>\n<p>The payment solution deploys Stables\u2019 proprietary settlement engine that processes all payments using USDC and works directly with Mastercard to enable settlement, Li stated. At the same time, the wallet will accept deposits in a number of stablecoins, including rival stablecoin Tether (USDT) and Binance USD (BUSD), but all the deposits will be automatically converted into USDC at no cost. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Circle taps Cross River as banking partner, expands ties with BNY Mellon<\/em><\/strong><\/p>\n<p>According to Li, Stables is confident in USDC\u2019s future despite the recent issues involving the collapse of Silvergate Bank. The CEO stated:<\/p>\n<blockquote><p>\u201cStablecoins will play a pivotal role in the new financial system and will be core to bridging the worlds of traditional and decentralized finance. Stables will continue to work with USDC and Circle as a pivotal part of that ecosystem.\u201d<\/p><\/blockquote>\n<p>In addition to crypto, users can also top up their balances using bank transfers, direct debit and other modes of payment, Li said. At launch, Stables supports deposits and withdrawals in the Australian dollar, with soon-to-come integrations including the U.S. dollar, euro, the British pound, as well as currencies frothe APAC, Latin America and Africa.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Global payment provider Mastercard is launching a stablecoin digital wallet integration with the Australian stablecoin platform Stables. Mastercard and Stables on March 20 announced a collaboration to allow retail customers in the Asia-Pacific (APAC) region to spend their stablecoins anywhere Mastercard is accepted. The collaboration involves a stablecoin-only wallet built by Stables, coming with a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-17472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mastercard to settle transactions for stablecoin wallet in APAC | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mastercard to settle transactions for stablecoin wallet in APAC | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Global payment provider Mastercard is launching a stablecoin digital wallet integration with the Australian stablecoin platform Stables. Mastercard and Stables on March 20 announced a collaboration to allow retail customers in the Asia-Pacific (APAC) region to spend their stablecoins anywhere Mastercard is accepted. The collaboration involves a stablecoin-only wallet built by Stables, coming with a [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/\" \/>\n<meta property=\"og:site_name\" content=\"NFT &amp; Crypto News\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T23:10:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-20T23:11:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/dabc1405-f6fb-4a30-bf1b-ab02adacd686.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"799\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/\"},\"author\":{\"name\":\"Staff\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792\"},\"headline\":\"Mastercard to settle transactions for stablecoin wallet in APAC\",\"datePublished\":\"2023-03-20T23:10:58+00:00\",\"dateModified\":\"2023-03-20T23:11:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/\"},\"wordCount\":436,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/dabc1405-f6fb-4a30-bf1b-ab02adacd686.jpg\",\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/\",\"url\":\"https:\/\/nftandcrypto-news.com\/crypto\/mastercard-to-settle-transactions-for-stablecoin-wallet-in-apac\/\",\"name\":\"Mastercard to settle transactions for stablecoin wallet in APAC | NFT &amp; 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