Circle partners with Mastercard and Finastra to promote stablecoin payment services in Europe and Africa

According to ChainCatcher, Circle announced a partnership with Mastercard and Finastra. This collaboration aims to integrate stablecoin settlement capabilities into mainstream finance, further promoting the adoption of USDC in the global payments sector.

On Wednesday, Mastercard stated that it will allow acquirers and merchants in Eastern Europe, the Middle East, and Africa (EEMEA) to settle transactions using USDC and EURC. Arab Financial Services and Eazy Financial Services will be the first to access this service, marking Mastercard's first provision of stablecoin settlement services in the region.

London-based financial software provider Finastra also announced on Wednesday that it will integrate USDC into its Global PAYplus platform. This platform processes over $5 trillion in cross-border transactions daily.

Circle stated that this integration will enable banks in 50 countries to use USDC for international payment settlements, even if payment instructions are still denominated in fiat currencies.