Mastercard CEO Michael Miebach identified cross-border payments as the primary use case for stablecoins, following the company's $1.8 billion acquisition of infrastructure provider BVNK.
Mastercard will distribute the Open USD stablecoin through its newly acquired infrastructure firm BVNK, leveraging a network that processes $30 billion in annual volume.
Mastercard has integrated Stellar into its recently acquired BVNK platform to expand stablecoin payment capabilities for global clients.
Marqeta and BVNK have partnered to enable stablecoin-backed card issuance for businesses, leveraging Mastercard's network infrastructure.
