Mastercard and BVNK launched the Global Money Platform, letting customers spend stablecoin balances across Mastercard's merchant network. The service pairs fiat and stablecoin accounts in one integration, with card issuing in more than 130 countries.
Mastercard and BVNK unveiled the Global Money Platform on Thursday, Oct. 15, opening hundreds of millions of merchant locations to stablecoins spending. Customers no longer need to exchange their holdings manually before they spend. It is the first major product integration since Mastercard acquired BVNK in August.
One account for fiat and stablecoins
The platform lets banks, fintechs and businesses offer accounts that hold both fiat currencies and stablecoins. Real-time conversion, payment cards and international payouts run through a single API. Nuvei, Marqeta, Ontop, Beem and Almond FinTech are among the first companies integrating the service.
BVNK co-founder and chief business officer Chris Harmse said the launch delivers on a promise to connect BVNK's technology with the scale and trust of Mastercard.
Mastercard Move extends the reach
Mastercard's Move platform adds access to more than 17 billion payment endpoints. Businesses can convert stablecoin balances into local currency payments delivered directly to bank accounts. Coverage is expected to expand beyond 40 currencies across more than 200 countries and territories in 2027.
Raj Dhamodharan, Mastercard's executive vice president of blockchain and digital assets, said, according to Bitcoin News: "the future of commerce will be built on interoperability across multiple forms of money".
A $1.8 billion acquisition underpins the launch
The August acquisition of BVNK was valued at up to $1.8 billion, including contingent payments. Future plans include tokenized deposits and commerce conducted by autonomous AI agents.
Source: Bitcoin News
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