13th October 2026
By Anjali Kochhar
Mastercard CEO Michael Miebach has identified cross-border payments as one of the most promising real-world applications for stablecoins, arguing that blockchain-based digital currencies could help businesses move money faster and with greater cost transparency than traditional international payment systems.
Mastercard CEO Highlights Stablecoin Benefits for Cross-Border Payments
Speaking to Bloomberg TV on October 9, Miebach highlighted the challenges companies face when international transfers take several days to complete and transaction fees remain unclear. He said faster money movement could significantly improve corporate working capital management by allowing businesses to access funds more quickly.
Stablecoins are digital assets designed to maintain a relatively stable value, typically by being pegged to currencies such as the US dollar. Their ability to settle transactions on blockchain networks makes them an alternative to conventional cross-border payment infrastructure.
Mastercard Expands Stablecoin Strategy With Open USD (OUSD)
Mastercard is expanding its involvement in the sector through its support for Open Standard and its US dollar-backed stablecoin, Open USD (OUSD). The stablecoin went live on September 30, with Mastercard among four integration options available to businesses, alongside Stripe, Coinbase and Visa.
Miebach said Mastercard’s objective is to develop stablecoin solutions primarily for transferring money rather than speculative investment. The approach reflects growing interest in using digital assets to improve payment efficiency for businesses operating across multiple countries.
Stablecoins Gain Traction in Global B2B Payments
Cross-border business-to-business payments are already among the largest use cases for stablecoins. According to PYMNTS Intelligence, these transfers account for a significant share of global stablecoin payment activity. Blockchain-based settlements can be completed within seconds in suitable conditions, potentially reducing costs compared with traditional international wire transfers.
Stablecoins may also offer businesses in countries experiencing currency depreciation access to dollar-denominated liquidity. This can help companies manage currency exposure and preserve purchasing power, although stablecoins still carry risks related to regulation, reserves and the platforms supporting them.
Mastercard has taken additional steps to integrate digital assets into its payment infrastructure. In August, the company announced a partnership with stablecoin infrastructure network Borderless.xyz to explore how its Crypto Credential framework could support trusted cross-border stablecoin transactions.
The company also completed its acquisition of cryptocurrency infrastructure platform BVNK in August, aiming to improve interoperability between traditional currencies and digital assets. The move is intended to expand payment options for consumers and businesses while connecting blockchain-based transfers with existing financial systems.
Mastercard’s strategy signals a broader shift in the payments industry, where established financial companies are exploring blockchain technology to address longstanding inefficiencies in international money transfers.
As businesses increasingly demand faster settlements, lower transaction costs and round-the-clock payment availability, stablecoins could become an important component of global payment infrastructure. Their wider adoption, however, will depend on regulatory clarity, security standards and the ability to integrate digital currencies with established financial networks.
