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Mastercard tests using SoFiUSD for card payment settlement

MeNews
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Abstract generation in progress
ME News message: On April 20 (UTC+8), Mastercard is testing the introduction of stablecoins into card payment settlement workflows and is working with SoFi Technologies to use the USD stablecoin SoFiUSD to complete transaction clearing in the background. The proposal mainly targets the settlement link between issuing banks and acquiring banks, while the user payment experience remains unchanged. Mastercard plans to support stablecoins, tokenized deposits, and digital representations of fiat currencies through its Multi-Token Network to achieve 7×24-hour settlement and improve cross-border payment efficiency. (Source: MLion)
MA0.32%
SOFI-3.64%
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