Yesterday, Beijing time, Mastercard and BVNK launched the Global Money Platform. Stablecoins often discussed in this space, including $BTC , can now be transferred back and forth with fiat currency within the same account.
$BTC is Bitcoin, the cryptocurrency with the largest market capitalization.
According to the companies, banks, fintechs, and businesses can use a single API to connect multi-currency accounts, instant currency conversion, stablecoin cards, and payouts to recipients’ local bank accounts.
The platform integrates Mastercard Move, which the announcement says reaches more than 17 billion endpoints. Stablecoin balances can be converted directly into local fiat currency and deposited into recipients’ bank accounts.
This is the first product to bring the two companies together since Mastercard acquired BVNK. Stablecoin balances can also be used across Mastercard’s global merchant acceptance network.
$BTC is Bitcoin, the cryptocurrency with the largest market capitalization.
According to the companies, banks, fintechs, and businesses can use a single API to connect multi-currency accounts, instant currency conversion, stablecoin cards, and payouts to recipients’ local bank accounts.
The platform integrates Mastercard Move, which the announcement says reaches more than 17 billion endpoints. Stablecoin balances can be converted directly into local fiat currency and deposited into recipients’ bank accounts.
This is the first product to bring the two companies together since Mastercard acquired BVNK. Stablecoin balances can also be used across Mastercard’s global merchant acceptance network.