Mastercard has launched Global Money Platform, its first major integration with BVNK since acquiring the stablecoin infrastructure company in August. The platform lets businesses hold and convert fiat currencies and stablecoins, offer stablecoin-linked cards, and pay recipients' local bank accounts directly from stablecoin balances. It connects to Mastercard Move, which can route payments to more than 17 billion destinations, and to Mastercard's merchant network so customers can spend stablecoin balances with payment cards. Nuvei and Marqeta are among the first partners. The move extends Mastercard's role into stablecoin infrastructure and puts it in closer competition with Visa, which launched a similar platform in July. A Standard Chartered study cited in the article points to growing stablecoin transaction activity, even though supplies of USDt and USDC have been relatively flat this year.
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