With stablecoin adoption accelerating worldwide — from cross-border remittances to B2B trade and payouts to gig workers — Mastercard is making a calculated bet that tokenized money will become a mainstream part of the payments landscape.
Mastercard and Circle, issuer of USDC stablecoin, have announced an expanded partnership that will allow acquiring banks in Eastern Europe, the Middle East, and Africa (EEMEA) to settle transactions in USDC and EURC, fully reserved stablecoins issued by regulated Circle affiliates. The move, announced August 26, marks the first time acquirers in the region can settle directly in stablecoins, a milestone that could transform cross-border trade and digital payments.
“This partnership is a pivotal step toward truly borderless, real-time commerce,” said Kash Razzaghi, Chief Business Officer at Circle. “By leveraging Mastercard’s global network, we can extend the benefits of stablecoins beyond crypto-native use cases into mainstream finance.”
Dimitrios Dosis, president of Mastercard EEMEA, added: “Our work with Circle is part of Mastercard’s commitment to bring digital assets safely into the financial mainstream. By embedding compliance and trust into stablecoin settlement, we’re enabling faster, more secure transactions for businesses and consumers across the region.”
The launch comes at a crucial moment for the region. According to the World Bank, the global average cost of sending $200 stood at 6.4% in Q4 2023—more than double the UN SDG target of 3%. Digital remittances averaged 5% versus 7% for cash-based methods, highlighting the savings technology can deliver. Stablecoin settlement could lower costs even further while cutting transfer times from days to near real-time. For small businesses and merchants, this means quicker supplier payments, stronger cash flow, and greater protection against currency volatility.
Beyond remittances, the model could benefit gig workers, creators, and SMEs across EEMEA who struggle with delays and fees in receiving international payments. Faster, cheaper, and more secure payouts have a direct impact on household incomes and business growth.
The partnership builds on Mastercard’s broader digital asset strategy, supported by its Multi-Token Network, Crypto Credential, and Crypto Secure platforms. Stablecoins—cryptocurrencies pegged to assets such as the U.S. dollar or euro—have gained traction as a reliable alternative to volatile tokens like Bitcoin. The sector’s market capitalization reached $166 billion by June 2025, according to the Stablecoin Industry Report: Q2 2025. In EEMEA, where inflation and costly remittances are persistent challenges, adoption is accelerating. Institutional moves like Mastercard and Circle’s expansion could push stablecoins firmly into mainstream finance.
For Mastercard, enabling regulated stablecoin settlement is not just a technical milestone but a strategic play to expand its role as a trusted bridge between blockchain and traditional finance, while tapping into new growth opportunities in emerging markets.
Hikmatu Bilali
