Global Payment Giant MasterCard said in a statement on its official blog that Stablecoins, which stands out among cryptocurrencies, have now reached a turning point and are having a major impact on the real world.
The company noted that Stablecoins offers low-cost, fast solutions, especially for cross-border transactions, highlighting the future potential of these digital assets.
The statement noted that the genius law passed in the US Congress provides a much-anticipated legal framework for digital assets and instills trust in the sector. This step, along with the European Union’s market for crypto assets (MICA) regulation, contributes to global regulatory momentum. Financial centres in Hong Kong, Singapore and the United Arab Emirates have also adopted a similar approach by introducing stable, secure and transparent regulations.
MasterCard said these developments laid the foundation for a more harmonious and reliable environment in the industry, and “we support clear and powerful regulations that promote innovation while increasing trust.”
MasterCard said Stablecoins already offers tangible benefits in the business world. In a blog post, we noted that Stablecoins accelerates cross-border business-to-business (B2B) payments, simplifies peer-to-peer (P2P) transfers, and offers more flexible payment options for content creators and employees.
However, the company said that technical benefits alone are not enough for these digital assets to enter the mainstream. It emphasized the need to integrate with reliable, easy-to-use systems and ensure global compliance.
In that blog post, MasterCard said it has been preparing for years to make Stablecoins safe and scalable. The company claimed it had created a network that ensured regulatory compliance, resolved disputes and promoted trust through initiatives such as the MasterCard Multi-Token Network and the MasterCard Crypto Credential.
*This is not investment advice.