Mastercard Launches Multicurrency Platform
Mastercard and BVNK announced on Thursday that they launched a platform combining traditional currencies and stablecoins to simplify international payments and money management.
The Mastercard Global Money Platform integrates Mastercard's payment network with BVNK's stablecoin infrastructure through a single API, allowing banks, fintech firms and businesses to offer "multi-currency accounts, including fiat and stablecoins, real-time conversion, stablecoin-linked cards and local bank payouts through Mastercard Move into their own products and under their own brand. "
The service also enables companies to manage treasury operations and cross-border transactions through one system. Blockchain and Digital Assets at Mastercard Executive Vice President Raj Dhamodharan said they "believe the future of commerce will be built on interoperability across multiple forms of money."
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