Mastercard and Circle are expanding their partnership to enable settlement in USDC and EURC for acquirers in Eastern Europe, the Middle East, and Africa (EEMEA).
For the first time, regional acquirers can settle transactions directly in stablecoins. Arab Financial Services (AFS) and Eazy Financial Services will be the first adopters.
The arrangement allows acquiring institutions to receive settlement in USDC or EURC, fully-reserved stablecoins issued by Circle’s regulated affiliates, which they can then use to settle with merchants. It builds on existing work between Mastercard and Circle on crypto card solutions in the region, including Bybit and S1LKPAY.
Mastercard says the move is part of connecting blockchain-based assets with traditional commerce. Circle says the partnership expands USDC’s reach and supports its goal of enabling stablecoins to function alongside traditional payments.
AFS and Eazy Financial Services describe the settlement option as addressing demand for greater liquidity and faster settlement in high-volume transactions.
Beyond this initiative, Mastercard is working with Circle and other issuers to support stablecoin payments globally, including remittances, B2B transactions, and payouts to gig workers. Its tools, such as Crypto Credential and Crypto Secure, are designed to ensure compliance and transaction security.
