Cardano Teams Up with Mastercard to Drive Blockchain Payments
Cardano's Foundation has joined Mastercard's Crypto Partner Program, placing it alongside other firms exploring blockchain payment applications. This partnership aims to develop and enhance cross-border payments, business-to-business transactions, stablecoins, and settlement.
The terms of the agreement provide Cardano with a platform to work with well-established participants in the global payment space to determine how they can utilize Cardano's network.
However, this move does not suggest that Mastercard is using Cardano as a direct component of their payment platform. Instead, it suggests there will be avenues for collaboration and potential future use cases and additional uses in the future.
Cardano's stablecoin market holds about $60 million, but at least $43 million of this is comprised of USDCx, which accounts for over 70% of the total dollar-denominated assets available to users of the Cardano network.