Australians will be able to pay with Mastercard in Stablecoin
Australians will be able to pay with Mastercard debit cards in USD Coin Stablecoin (USDC)
The digital payment solution will process all transactions using Circle's USDC token
Australians will be able to pay with Mastercard cards in Stablecoin. Australian cryptocurrency wallet Stables has announced a partnership with payment system and USDC issuer Circle.
The Stables wallet, which supports only fiat currencies and stablecoins, will introduce Mastercard digital debit card support that will allow users to pay in USDC at all merchants that accept the cards of one of the world's leading payment systems.
The US-based Marqeta platform will also participate in the payment process. Within its infrastructure, Stablecoins will be instantly converted into fiat currencies for Mastercard transactions. The transaction will be authorized at the point of sale based on the user's available balance of stablecoins.
The payment solution will process all payments using USDC. At the same time, Stables Wallet will accept deposits in several stablecoins, including USDT, DAI, and FRAX, but all of them will be automatically converted to USDC for card payment free of charge.
Mastercard's digital card integrated into the Stables cryptocurrency wallet will become available to Australian users in the second quarter of 2023, according to Cointelegraph. The companies then plan to roll out the product to Europe, the US, the UK, and much of the Asia-Pacific region.
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