Mastercard and Circle Expand Collaboration for Stablecoin Settlement in EEMEA Region
Mastercard and Circle have announced a strategic partnership to enable USDC and EURC settlement for acquirers in the Eastern Europe, Middle East, and Africa (EEMEA) region. This collaboration aims to address real-world challenges and enhance efficiencies across various use cases by offering stablecoin settlements in the region.
The initiative marks a significant milestone as it allows the acquiring ecosystem in EEMEA to settle transactions using stablecoins for the first time. This move solidifies Mastercard’s position in bridging blockchain-based crypto assets with traditional fiat commerce infrastructure. Arab Financial Services and Eazy Financial Services will be among the first to benefit from this new capability.
Acquiring institutions will now have the option to receive settlements in USDC or EURC, fully-reserved stablecoins issued by regulated affiliates of Circle. These stablecoins can then be used to settle with merchants, facilitating efficient and reliable digital trade across emerging markets. This builds upon existing collaborations between Circle and Mastercard in the region, such as crypto card solutions utilizing USDC for transactions.
Dimitrios Dosis, President of Eastern Europe, the Middle East, and Africa at Mastercard, highlighted the strategic importance of this partnership. He emphasized the goal of integrating stablecoins into the financial mainstream by investing in the necessary infrastructure, governance, and partnerships to support this payment evolution. Through the expanded partnership with Circle, Mastercard aims to lead in applying expertise in security and compliance to the stablecoin sector.
Kash Razzaghi, Chief Business Officer at Circle, also emphasized the significance of the partnership in enabling borderless, real-time commerce. The collaboration with Mastercard will provide broader reach, global access, and scalable impact, making USDC settlements as common as traditional payments. This partnership aims to advance the role of stablecoins as essential tools for everyday financial activities worldwide.
Samer Soliman, CEO of Arab Financial Services, noted the transformative nature of offering USDC stablecoin settlement as a first in the region. This development provides clients with future-ready infrastructure to stay competitive in a rapidly evolving market, addressing the need for greater liquidity and operational efficiency in settlements.
Nayef Al Alawi, Founder, Managing Director, and CEO of Eazy Financial Services, echoed the sentiment of driving faster, secure, and efficient payment solutions through the collaboration with Mastercard and Circle. The partnership sets a new standard for digital settlement in the region, aligning with the mission to meet the evolving needs of merchants and consumers.
Mastercard’s support for the global growth of stablecoins includes ongoing collaborations with Circle to provide merchants with the option to receive payments in stablecoins. The company also backs regulated stablecoins from global issuers like Paxos, Fiserv, and PayPal, in addition to USDC. Mastercard is advancing efforts to foster regulated stablecoin use cases like remittances and B2B transactions through platforms like Mastercard Move and the Multi-Token Network (MTN).
As stablecoins gain momentum in the EEMEA region, Mastercard’s approach focuses on scalability, regulatory alignment, and practical utility to reinforce its leadership in payment innovation. This collaboration with Circle signifies a step towards enabling seamless and efficient digital trade in the region, paving the way for further advancements in the adoption of stablecoins.
