Mastercard has announced an expansion of its settlement infrastructure to support round-the-clock settlement using regulated stablecoins. The move allows partner banks and payment companies to settle transactions outside traditional banking hours, including intraday, weekends, and holidays, across its global payments network.
Six stablecoins will be available at launch: Circle’s USDC, Ripple’s RLUSD, and Paxos-issued PYUSD (PayPal USD), USDG, USDP (Pax Dollar), and SoFiUSD. These assets will operate on eight blockchain networks: Ethereum, Solana, Polygon, Base, Arbitrum, XRP Ledger (XRPL), Canton, and Tempo.
Mastercard emphasized that the new settlement option works alongside existing fiat-based systems, giving financial institutions flexibility based on operational and liquidity needs. Early participants in the United States and Latin America include ARQ, CBW Bank, Cross River, Lead Bank, and Nuvei. Cross River’s on-chain finance head Luca Cosentino noted increasing demand for faster, more transparent settlement, calling stablecoins a tool that meets that need.
The rollout is supported by regulatory approval: Mastercard’s US money transfer subsidiary, MTS US, has been granted a BitLicense by the New York Department of Financial Services (NYDFS). This license allows MTS US to support settlement with stablecoins and tokenized deposits. Mastercard is also in the process of acquiring stablecoin payments infrastructure firm BVNK, further strengthening its digital asset strategy.
Officials from Ripple, Paxos, and Circle highlighted the shift toward programmable, always-on settlement. Mastercard’s EVP of Blockchain and Digital Assets, Raj Dhamodharan, said the update targets settlement utility where liquidity and timing are critical, aligning with the demands of a digital economy.
