Overview

• Mastercard and MoonPay have collaborated to introduce virtual cards that draw directly from users' stablecoin balances.
• The stablecoin-powered cards are usable at more than 150 million merchants worldwide and automatically convert transactions into fiat currency.
• The initiative leverages infrastructure from Iron, a stablecoin payment firm acquired by MoonPay in March 2025.
• This launch builds on Mastercard's previous partnerships with OKX, Nuvei, and Circle to expand its crypto payment capabilities.
• Visa is also competing in the stablecoin space, piloting similar services across six Latin American countries.