Mastercard and Thunes have announced a collaboration that allows banks, payment service providers, and end-users to send money directly to stablecoin wallets. The update was introduced at the Singapore Fintech Festival and expands the types of payout methods supported by Mastercard Move.

What Is A Stablecoin

A stablecoin is a type of digital currency that is designed to stay close in value to a real-world currency, such as the US dollar. Because its value is more predictable compared to other cryptocurrencies, it can be used for payments and money transfers.

Stablecoin Wallets Added As A New Payout Method

Mastercard Move already supports transfers to bank accounts, cards, and cash collection points. With Thunes’ Direct Global Network added to the system, Mastercard Move can now send payouts to stablecoin wallets as well. This gives institutions and individuals another option for receiving money.

Stablecoins operate at all hours of the day, which means payouts can be made even outside normal banking hours.

Faster Transaction Speeds And More Receiving Options

The collaboration allows transfers to reach stablecoin wallets in near real-time. It functions alongside existing methods such as cards, accounts, and cash. This expands the choices available to banks, payment service providers, and their customers.

The announcement also states that stablecoin payouts may help certain underserved markets by offering an additional way for people to receive funds securely.

Mastercard And Thunes On The New Payout Method

Mastercard explains that its current network supports transfers in 150 currencies to more than 10 billion endpoints worldwide. Adding stablecoin wallets increases the number of destinations to which funds can be sent.

Thunes states that its Direct Global Network and Pay-to-Stablecoin-Wallets solution are designed to expand access to global payments. By integrating these tools into Mastercard Move, both companies aim to support more ways for users to receive money.

Responding To Demand For Digital Currency Payouts

Thunes’ Pay-to-Stablecoin-Wallets solution is meant for users who want instant, 24-hour payouts in a digital currency that holds steady value. Mastercard Move is adding this option to meet increasing interest in digital currency payouts for everyday financial use.

Mastercard Move currently covers more than 200 markets and supports over 150 currencies. It is used by banks, non-bank financial institutions, and organisations that need to send or receive money across borders.

Linking Traditional And Digital Payment Networks

The collaboration connects Mastercard’s existing payment network with Thunes’ infrastructure for real-time, cross-border digital transfers. By adding stablecoin wallets as another destination, the partnership broadens the range of payout methods available through Mastercard Move while keeping the same overall function.

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