📰 Sofia Bank has implemented blockchain-based settlement for its entire Mastercard card program using its SofiaUSD stablecoin.
This marks the first time Mastercard has operated with a bank using blockchain technology for full card program settlement.
The SofiaUSD stablecoin, available on both Ethereum and Solana, will process transactions for the program with over $25 billion in annual volume.
While this represents a significant shift in settlement infrastructure, no changes to cardholder terms or fees have been announced.
The next milestone to watch would be adoption metrics from other banks or expansion to additional card networks.
Source: https://www.blockmedia.co.kr/archives/1143142
This marks the first time Mastercard has operated with a bank using blockchain technology for full card program settlement.
The SofiaUSD stablecoin, available on both Ethereum and Solana, will process transactions for the program with over $25 billion in annual volume.
While this represents a significant shift in settlement infrastructure, no changes to cardholder terms or fees have been announced.
The next milestone to watch would be adoption metrics from other banks or expansion to additional card networks.
Source: https://www.blockmedia.co.kr/archives/1143142