Beirut: Mastercard and Circle are deepening their partnership to enable USDC and EURC settlement for acquirers in the Eastern Europe, Middle East, and Africa (EEMEA) region as stablecoins continue to address real-world challenges and enhance efficiencies.
According to National News Agency – Lebanon, this expanded effort marks the first time that the acquiring ecosystem in EEMEA will be able to settle transactions in stablecoins. This advancement further solidifies Mastercard’s role in bridging blockchain-native crypto assets with traditional fiat commerce infrastructure. Arab Financial Services and Eazy Financial Services are set to be the first beneficiaries of this initiative.
This move allows acquiring institutions to receive settlements in USDC or EURC, stablecoins fully reserved and issued by Circle’s regulated affiliates. These institutions can then use the stablecoins to settle transactions with merchants, paving the way for a new era of efficient digital trade across emerging markets. This initiative builds on existing efforts by Circle and Mastercard in the region for crypto card solutions, such as Bybit and S1LKPAY, which already use USDC for transaction settlements.
Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa at Mastercard, emphasized the strategic importance of integrating stablecoins into the financial mainstream. He stated that Mastercard’s partnership with Circle is a bold step towards supporting the evolution of payments from fiat to tokenized money, leveraging Mastercard’s experience in security and compliance.
Kash Razzaghi, Chief Business Officer at Circle, highlighted that expanding USDC settlement across Mastercard’s network in EEMEA is a significant step towards achieving borderless, real-time commerce. The partnership aims to make USDC as common as traditional payment methods, advancing the role of stablecoins in daily financial activities globally.
Mastercard, supporting the growth of stablecoins worldwide, now enables end-to-end stablecoin payments. This includes global collaboration with Circle to offer merchants the option to receive stablecoin payments, irrespective of consumer payment methods. Alongside USDC, Mastercard supports a range of regulated stablecoins including Paxos’ USDG, Fiserv’s FIUSD, and PayPal’s PYUSD.
Furthermore, Mastercard is broadening efforts to promote regulated stablecoin use cases in areas such as remittances, B2B transactions, and payouts to gig workers and creators through platforms like Mastercard Move and the Multi-Token Network (MTN). Mastercard’s robust infrastructure, including Crypto Credential and Crypto Secure, ensures that stablecoin transactions adhere to the highest security and compliance standards.
As stablecoins gain momentum in the EEMEA region, Mastercard’s focus on scalability, regulatory compliance, and practical utility underscores its leadership in payments innovation.