Mastercard launched the Global Money Platform in partnership with BVNK, a company it acquired in August for approximately $1.8 billion. The platform provides businesses with a single API for storing, transferring, and spending fiat and stablecoins. At its core is a multi-currency 'global money account,' where fiat and stablecoins coexist, with conversion handled through a single API. Banks, fintechs, and corporations can integrate such accounts into their products—with cards linked to stablecoins and local payouts—or use the platform for treasury and settlements.
Among the first integrators are Nuvei, Marqeta, Ontop, Beem, and Almond FinTech. The platform connects with Mastercard Move: users will be able to send payments in local currency to recipients' bank accounts, covering over 40 currencies in 200+ countries and territories by 2027. Stablecoins can be spent within the Mastercard acceptance network, with card issuance available in 130+ countries.
"The Global Money Platform will become a unified infrastructure layer not only for stablecoins but for all forms of money," said BVNK co-founder and Chief Business Officer Chris Harmse.
Raj Dhamodharan, Executive Vice President of Blockchain and Digital Assets at Mastercard, stated: "We believe the future of commerce will be built on the interoperability of different forms of money." He called the launch a step towards "programmable and agent-based commerce." Mastercard has already been moving in this direction with Coinbase and Ripple and has obtained a New York BitLicense for stablecoins and tokenized deposits—their support is promised to be added later, along with agent-based commerce, without specific timelines.
Nuvei Chairman and CEO Phil Fayer noted: "Stablecoins are becoming an increasingly important part of this future"—in terms of international trade and payments.
Previously, Mastercard launched support for six regulated stablecoins in settlements: USDC, PayPal USD, Global Dollar, Pax Dollar, Ripple USD, and SoFiUSD—on networks like Ethereum, Solana, Polygon, Base, Arbitrum, Canton, Tempo, and XRP Ledger, with settlements outside banking hours. On September 22, SoFi transitioned its $25 billion card program to blockchain settlements with SoFiUSD, and BVNK integrated Stellar into its API for 130+ markets.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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