Mastercard partners with 85 crypto companies to capture the $27.6 trillion stablecoin transfer market

On March 11, Mastercard announced the launch of the “Crypto Partner Program,” initially bringing together over 85 digital asset companies, payment service providers, and traditional financial institutions, forming one of the largest blockchain alliances in the payments industry to date. The immediate background for this move is that stablecoin transfer volumes are projected to reach $27.6 trillion by 2025.

Strategic Intent of the Crypto Partnership Program: Why Mastercard is Acting Now

(Source: YouTube)

Statements from Mastercard Executive Vice President Raj Dhamodharan and Sherri Haymond reveal the core logic behind this initiative: digital assets have evolved from speculative tools into infrastructure that addresses real-world financial issues, including cross-border remittances, B2B payments, and large-scale settlement systems.

This program attracts partners across the entire crypto ecosystem: Binance representing exchange liquidity, Circle and Paxos providing stablecoin infrastructure, Ripple focusing on cross-border payments, PayPal bringing consumer payment networks, Consensys (MetaMask’s parent company) connecting self-custody users, and public blockchains like Solana, Polygon, Avalanche, and Aptos providing underlying infrastructure.

The differentiating aspect of this plan is that it’s not just about technical integration but offers a “collaboration forum”—allowing crypto-native companies, traditional banks, and payment providers to work with Mastercard’s professional team to co-design next-generation financial products and payment scenarios.

Explosive Growth of Stablecoin Data: Structural Changes in the Payment Market

Driving Mastercard’s strategic decision are data points that traditional payment industries cannot ignore:

• 2025 Global Stablecoin Transfers: $27.6 trillion, surpassing the total transfer volume of Visa and Mastercard’s traditional networks
• February 2026 Monthly Transaction Volume: $1.26 trillion, with USDC accounting for about 70%
• Stablecoin-Linked Card Spending (2025): $4.5 billion, with an annual growth rate of 673%
• B2B Stablecoin Payments (2025): $226 billion, with an annual growth rate of 733%
• Mastercard’s Forecast: Stablecoin card spending will expand to between $50 billion and $100 billion in the coming years

These vertical growth figures demonstrate that stablecoins are no longer niche tools for crypto enthusiasts but are increasingly displacing traditional institutions like Western Union and SWIFT in the cross-border payments market.

MTN Multi-Token Network: A Technological Bridge Connecting Traditional Finance and Crypto Ecosystems

The core technological pillar of this plan is Mastercard’s “Multi-Token Network (MTN).” MTN aims to enable real-time settlement of multiple digital assets, bridging liquidity gaps between traditional banking systems and the crypto ecosystem. Currently, JPMorgan Chase has integrated MTN for stablecoin settlement, indicating high recognition from traditional financial institutions.

Practical applications show significant efficiency differences: a company in Lagos, Nigeria, can use this ecosystem to pay suppliers in São Paulo, Brazil, with settlement completed in seconds; whereas traditional banking systems typically take 3 to 5 days and involve multiple intermediaries and high fees.

On the consumer side, MetaMask has launched a self-custody payment card in the US, allowing users to make purchases at Mastercard-supported merchants worldwide while maintaining full control of their assets and earning $mUSD stablecoin rewards. SoFi Bank also plans to use its own $SoFiUSD stablecoin as the settlement currency within the Mastercard payment network.

Frequently Asked Questions

How does Mastercard’s crypto partnership program differ from Visa’s stablecoin strategy?

Visa has launched stablecoin settlement services in over 40 countries, leading the way. Mastercard’s strategy is differentiated by scale—by establishing a coalition of 85 partners, creating a merchant network covering over 200 countries and regions worldwide, providing broader real-world application scenarios for blockchain technology, and using the MTN multi-token network as a standardized technical infrastructure, aiming to surpass competitors in ecosystem integrity.

Does the $27.6 trillion stablecoin transfer volume mean it has replaced traditional payments?

While the $27.6 trillion stablecoin transfer volume nominally exceeds Visa and Mastercard’s traditional networks, much of this involves inter-institutional clearing, DeFi protocol settlements, and non-retail transactions, which differ from consumer payments processed by Visa/Mastercard. A more accurate understanding is that stablecoins are rapidly infiltrating various layers of financial infrastructure, especially in cross-border B2B payments, which are growing at 733% annually in 2025.

How do ordinary consumers benefit from Mastercard’s stablecoin integration?

Consumers benefit in three main ways: lower-cost cross-border payments (eliminating high fees of traditional international remittances), higher rewards through stablecoin-based payments, and the ability to use self-custody cards like MetaMask to make purchases globally while retaining full control of their assets. Long-term, as the plan expands, improved B2B payment efficiency could reduce supply chain costs and indirectly lower consumer prices.