Circle partners with Mastercard and Finastra to expand stablecoin payments in Europe and Africa

On August 28, Circle announced a partnership with Mastercard and Finastra. The collaboration aims to integrate stablecoin settlement functionality into mainstream finance and further integrate USDC into the global payments landscape.

Mastercard announced Wednesday that it will allow acquirers and merchants in Eastern Europe, the Middle East, and Africa (EEMEA) to use USDC and EURC for settlement transactions. Arab Financial Services and Eazy Financial Services will be the first to access the service, marking Mastercard's first stablecoin settlement service in the region.

London-based financial software provider Finastra also announced Wednesday that it will integrate USDC into its Global PAYplus platform, which processes over $5 trillion in cross-border transactions daily. Circle stated that this integration will enable banks in 50 countries to use USDC for international payment settlement, even if the payment instructions remain denominated in fiat currency.