A top Mastercard executive says that the payments giant is gearing up for stablecoins to make a big impact on the global financial system.
In a new blog post, Mastercard’s executive vice president and head of global policy, Jesse McWaters, says that the company welcomes the recently passed stablecoin regulation, not only in the US with the GENIUS Act, but also in Europe with the Markets in Crypto-Assets (MiCA) framework.
While many view stablecoins as a threat to payments giants like Mastercard, McWaters says the company has been “preparing for this moment for years.”
“We’ve worked across the crypto and traditional finance ecosystems to explore and understand how stablecoins and other digital assets can complement and enhance existing payment systems. We’ve invested in the tools, partnerships and standards that can help stablecoins scale responsibly.”
McWaters also hints that the company is coordinating its network of partners, which includes “governments, crypto natives, financial institutions and technology partners,” to prepare for stablecoin adoption.
Says the executive,
“The GENIUS Act, MiCA and other emerging frameworks open the door to a future filled with more innovation. And Mastercard is walking through it – by building the infrastructure, setting the standards and enabling the partnerships that will help define the next era of digital money.
We’ve made meaningful progress. We’re excited to take stablecoins to the next level.”
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