- On June 3, Mastercard revealed its plan to expand its integration with the XRP Ledger (XRPL) to enhance support for settlement capabilities.
- The company introduced intraday, weekend and holiday settlement capabilities for regulated stablecoins.
- Mastercard will provide support for popular regulated stablecoins such as USDC, PYUSD, RLUSD and others across different blockchains.
On June 3, Mastercard announced that it was expanding support for its settlement capabilities by including stablecoins along with additional card settlements during the day, weekends, and holidays.
Details from MasterCard’s official announcement
MasterCard official has been involved press releaseThe company revealed major improvements for companies that issue cards and those that accept card payments. According to the press release, the leading payment network will add new settlement options that process same-day, weekend and holiday transactions.
These options will provide support for both traditional fiat currencies and settlements that occur directly on the blockchain using the systems stablecoins.
“The next phase of stablecoin adoption is about real-world utility, especially in settlement, where timing and liquidity are most important,” Raj Damodharan, Executive Vice President of Blockchain and Digital Assets at Mastercard, said in the press release. “By offering intraday and weekend settlement options across our global network, we are expanding how partners manage liquidity and operate in an always-on digital economy while maintaining the trust, flexibility and assurances they have come to expect from Mastercard.”
“Mastercard’s move to cross-chain settlement is a historic confirmation that blockchain technology is ready for the world’s most critical payment infrastructure,” said Jack MacDonald, Senior Vice President of Stablecoins at Ripple. “The inclusion of RLUSD in Mastercard’s global settlement network reflects the growing demand for reliable, regulated stablecoins designed for real-world financial use cases on public blockchains like XRP Ledger. We are excited to support the next evolution of faster, more resilient and always-available stablecoins.” “Settlement.”
The new options are designed to support traditional fiat currencies and settlements that occur directly on the blockchain using regulated stablecoins.
This initiative will help MasterCard partners manage their funds in more effective ways by giving them more options to settle their transactions. During this, it will not affect current operations. The new options are being created for various use cases, including cross-border payments, treasury operations and returns.
According to the official announcement, the company will integrate support for popular regulated stablecoins, such as Circle’s USDC, Paxos’ PYUSD, Ripple’s USDG, USDP, RLUSD, and SoFiUSD.
The platform will leverage various blockchains to enhance stablecoin operations, including… EthereumSolana, Polygon, Base, Arbitrum, Canton, Tempo, and XRP Ledger.
