Mastercard and fintech firm BVNK on Oct. 15 announced the launch of Global Money Platform, a new offering that connects stablecoin balances to hundreds of millions of merchant locations worldwide and supports card issuance in more than 130 countries. The platform combines fiat accounts, stablecoin conversion, payment cards and cross-border payouts through a single API, allowing banks, fintech companies and enterprises to offer accounts that hold both fiat currency and stablecoins.
The companies said Nuvei, Marqeta, Ontop, Beem and Almond FinTech have already integrated with the platform. Mastercard added that Mastercard Move can connect to more than 17 billion payment endpoints and convert stablecoin balances into local currency before sending funds directly to bank accounts. According to the announcement, the platform is scheduled to expand by 2027 to cover more than 200 countries and territories and support over 40 currencies. Bitcoin.com News also said Mastercard acquired BVNK in August in a deal valued at up to $1.8 billion.
Mastercard and fintech company BVNK said on Oct. 15 that they have launched Global Money Platform, a payments product that connects stablecoin balances to hundreds of millions of merchant locations worldwide and supports card issuance in more than 130 countries.
Single API combines fiat accounts, stablecoin conversion and card payments
The platform brings together fiat accounts, stablecoin conversion, payment cards and international payouts through a single API. Banks, fintech firms and enterprises can use it to offer accounts that hold both fiat balances and stablecoins.
Nuvei, Marqeta, Ontop, Beem and Almond FinTech have already integrated with the platform.
Mastercard Move links payment endpoints and bank accounts
According to the companies, Mastercard Move can connect to more than 17 billion payment endpoints and convert stablecoin balances into local currency before paying funds directly into bank accounts.
Expansion plan runs through 2027
The platform is set to expand by 2027 to cover more than 200 countries and territories and more than 40 currencies.
Bitcoin.com News said Mastercard acquired BVNK in August in a transaction valued at up to $1.8 billion.
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