Mastercard and Thunes, the Singapore-based fintech firm, have teamed up to accelerate global money movement for banks, payment service providers and end-users by expanding stablecoin wallet payout capabilities.
The duo said in a statement on Thursday that Through this strategic collaboration, Mastercard Move will facilitate near real-time payouts to stablecoin wallets via Thunes’ Direct Global Network, harnessing the speed, liquidity, and 24/7 availability of regulated stablecoins.
It is noted that Mastercard Move already enables payouts to cards, bank accounts, and cash across its global network.
Through this alliance with Thunes, it will offer stablecoin wallets as a new endpoint – giving banks and payment providers greater flexibility in delivering funds, while offering end-users more choice in how they receive them.
“As digital currencies become a bigger part of global money movement, this collaboration with Thunes reinforces our role as a trusted bridge between traditional and digital finance,” said Pratik Khowala, Global Head of Transfer Solutions at Mastercard.
“With Mastercard Move, we already enable transfers in 150 currencies to over 10 billion endpoints—including accounts, cards, and cash,
“With this collaboration we’re adding stablecoin wallets to that mix. It’s all about giving end-users more choice and unlocking new possibilities for banks and payment service providers as digital currencies continue to grow,” he added.
Meanwhile, Chloe Mayenobe, President and Chief Operating Officer at Thunes, said collaborating with Mastercard Move to enable stablecoin payouts is another step forward in the firm’s mission to enable the next billion end users to take part in the global economy.
“By adding Thunes’ trusted Direct Global Network and Pay-to-Stablecoin-Wallets solution to their network and money movement capabilities, Mastercard is delivering faster and more inclusive payment options for individuals and businesses worldwide,” she added.
According to the statement, this collaboration marks a key milestone in Mastercard Move’s commitment to facilitating stablecoin flows for financial institutions and wallets worldwide.
It is also a powerful validation of the rapidly accelerating adoption of stablecoin payments for real-world utility. Thunes’ recently launched Pay-to-Stablecoin-Wallets solution, which will be integrated into Mastercard Move’s network, directly addresses the rapidly growing demand from individuals and businesses worldwide to receive instant, 24/7 payouts in a stable digital currency.
It is noted that Mastercard Move provides direct disbursers, banks, non-bank financial institutions, and their customers with fast, secure money movement solutions, both domestically and internationally.
The portfolio reaches more than 200 markets and 150+ currencies, with access to over 95 percent of the world’s banked population.
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