• Mastercard and Circle expand their partnership to enable EEMEA banks to settle transactions in USDC and EURC stablecoins.
• The move aims to reduce remittance costs, expedite cross-border payments, and safeguard SMEs against currency volatility.
• Mastercard positions stablecoins as mainstream money, backed by its Multi-Token Network and regulatory safeguards.

Mastercard and Circle, issuer of USDC stablecoin, have announced an expanded partnership that will allow acquiring banks in Eastern Europe, the Middle East, and Africa (EEMEA) to settle transactions in USDC and EURC, fully reserved stablecoins issued by regulated Circle affiliates. The move, announced August 26, marks the first time acquirers in the region can settle directly in stablecoins, a milestone that could transform cross-border trade and digital payments.

Mastercard’s goal is to bring stablecoins into the financial mainstream by investing in infrastructure, governance, and partnerships that enable the transition from traditional fiat to tokenized, programmable money. “Through our expanded partnership with Circle, we are taking bold steps in integrating their innovative use across our global network,” said Dimitrios Dosis, president, Eastern Europe, Middle East, and Africa, Mastercard.

This innovation comes at a pivotal moment for EEMEA markets. According to the World Bank, the global average cost of sending $200 stood at close to 8% in Q2 2024—slightly higher than 6.2% in 2022 and still more than double the UN’s SDG target of 3%. Digital remittances were cheaper at 5% compared to 7% for non-digital methods, underscoring the efficiency gains from technology. Stablecoin-based settlement could drive costs down even further while accelerating transfers from days to near real-time. For small businesses and merchants, this translates into faster supplier payments, more working capital, and greater protection against currency volatility.

“Expanding USDC settlement across Mastercard’s vast network of acquirers in Eastern Europe, the Middle East, and Africa is a pivotal step toward truly borderless, real-time commerce,” says Kash Razzaghi, Chief Business Officer at Circle.

Beyond remittances, stablecoin settlement is perceived as bringing more efficiencies for gig workers, creators, and SMEs across the region, who often face delays and costs in receiving international payments. The ability to accept digital payments faster and more securely could have a direct impact on household incomes and business growth.

Mastercard emphasized that the partnership with Circle aligns with its broader strategy to integrate tokenized money into the financial mainstream, underpinned by its Multi-Token Network, Crypto Credential, and Crypto Secure infrastructure. By embedding trust, compliance, and regulatory alignment into stablecoin payments, Mastercard aims to make digital assets a safe and scalable tool for everyday financial activity.

Stablecoins, a class of cryptocurrencies pegged to stable assets such as the U.S. dollar or the euro, have rapidly gained traction as a reliable alternative to volatile digital currencies. Unlike Bitcoin or Ethereum, their stability makes them well-suited for everyday transactions, cross-border payments, and remittances. According to the Stablecoin Industry Report: Q2 2025, the total market cap of stablecoins reached $166 billion by June 2025. In regions such as Eastern Europe, the Middle East, and Africa (EEMEA), stablecoins are emerging as crucial tools for addressing inflation, preserving value, and mitigating the high costs and delays associated with remittances. This rising adoption is now being accelerated by institutional players, such as Mastercard and Circle, who are expanding the use of stablecoins beyond crypto-native use cases into mainstream financial systems.

For Mastercard, the partnership is more than a technical rollout — it is a strategic step to future-proof its network and expand its influence in the global digital asset economy. By enabling regulated stablecoin settlement, Mastercard is positioning itself as the trusted gateway between blockchain and fiat, while unlocking new growth opportunities in high-potential emerging markets. The move also diversifies revenue streams through settlement fees and compliance services, while reinforcing Mastercard’s role as a regulatory leader at a time when governments and central banks are closely scrutinizing stablecoins and Central Bank Digital Currencies (CBDCs).

Hikmatu Bilali