Circle Partners with Mastercard and Finastra to Expand Stablecoin Payments Business in Europe and Africa

BlockBeats News, August 28th, Circle announced a partnership with Mastercard and Finastra. This partnership aims to incorporate stablecoin settlement functionality into mainstream finance, furthering the integration of USDC into the global payment sector.

Mastercard stated on Wednesday that it will allow acquirers and merchants in Eastern Europe, the Middle East, and Africa (EEMEA) to settle transactions using USDC and EURC. Arab Financial Services and Eazy Financial Services will be the first to access this service, marking Mastercard's first offering of stablecoin settlement services in the region.

London-based financial software provider Finastra also announced on Wednesday the integration of USDC into its Global PAYplus platform. The platform processes over $50 trillion in cross-border transactions daily.

Circle stated that this integration will enable banks in 50 countries to use USDC for international payment settlement, even if payment instructions are still denominated in fiat currency.