Mastercard and BVNK launched Global Money Platform, the first product since Mastercard closed its acquisition of the stablecoin infrastructure company in August, giving banks, fintechs, and businesses one API to hold, spend, and send stablecoins and regular currency. Accounts on the platform keep stablecoin and fiat balances side by side and convert between them almost instantly, and businesses can issue cards tied to those stablecoin balances in more than 130 countries. Stablecoin balances can also be paid out as local currency to recipients’ bank accounts through Mastercard Move, which Mastercard expects to cover more than 40 currencies in over 200 countries by 2027. Payment processor Nuvei and card-issuing platform Marqeta are among the first companies integrating the platform.
