- Mastercard and MoonPay to launch stablecoin card with 150M merchant reach
- Iron acquisition powers MoonPay’s tech for real-time crypto-to-fiat conversion
- SEC eases stablecoin scrutiny as Visa pilots rival service in Latin America
Mastercard is preparing to launch a new stablecoin payment card service through a partnership with MoonPay. This service aims to enable stablecoin transactions at up to 150 million merchants globally.
The announcement builds upon MoonPay’s acquisition of Iron, a stablecoin payment firm, in March 2025. The Iron infrastructure will provide the technical foundation for these upcoming cards, which are designed to convert stablecoin payments into fiat currency at the point of sale.
Iron Acquisition Powers New Card Technology
This partnership emerges as traditional payment processors increasingly expand into the digital asset sector, particularly targeting stablecoins amid ongoing regulatory developments. Mastercard’s move follows its earlier collaborations in April with crypto exchange OKX, payments processor Nuvei, and USD Coin (USDC) issuer Circle. These are all part of its broader effort to scale blockchain-based payment networks.
MoonPay’s acquisition of Iron earlier this year plays a central role in powering this new stablecoin card initiative. The platform is intended to allow the use of stablecoins for everyday transactions by removing volatility from the merchant’s experience. The conversion of stablecoins into local currency at the time of transaction is designed for seamless integration with traditional retail systems.
Related: Mastercard Unveils Euro Crypto Debit Card: Spend Bitcoin Directly
Both companies state the new card infrastructure is set to support retail transactions across various regions, with MoonPay managing the crypto-to-fiat conversion and Mastercard delivering the global payments reach.
Partnership Builds on Previous Blockchain Collaborations
Mastercard’s latest partnership with MoonPay follows a series of blockchain-related deals announced in April 2025. These include working with OKX on launching a crypto card and cooperating with Nuvei and Circle to develop merchant acceptance solutions for USDC payments.
The announcement positions Mastercard’s latest project as part of an ongoing expansion strategy in the digital payments space. It also comes as rival network Visa initiated a stablecoin transaction pilot across six Latin American countries on May 1.
Related: MetaMask Debuts Crypto Debit Card with Mastercard
The rollout coincides with a shifting regulatory environment in the United States. In April, the U.S. Securities and Exchange Commission dropped its investigation into PayPal’s stablecoin product. It also issued guidance suggesting that some stablecoins may not qualify as securities, although it did not clarify rules concerning yield-bearing or algorithmic variants.
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