Mastercard CEO says stablecoins can solve cross-border payment delays
In an interview with Bloomberg TV, Mastercard CEO Michael Miebach said stablecoins offer an instant alternative to cross-border payments that currently take days and have unclear fees. Open Standard announced on September 30 that its U.S. dollar-backed OUSD stablecoin is live, with Mastercard among four integration options alongside Stripe, Coinbase, and Visa.
On June 30, Open Standard said the stablecoin would launch later in 2026 and noted that several dozen companies had signed up, calling OUSD a money movement stablecoin.
“From a working capital perspective for a company, if you could move the money instantly, it would be so much better,” Michael Miebach, CEO, Mastercard said.
“For issuers with international reach, these two use cases together make B2B cross-border infrastructure one of the clearest near-term growth opportunities,” PYMNTS Intelligence report said.
Earlier in June, Open Standard said its stablecoin would launch later in 2026 and noted that several dozen firms had already signed up to use it.
What we know
Open Standard announced Sept. 30 that the Open USD (OUSD) stablecoin is live and that Mastercard is one of the four integration paths through which businesses can get started with OUSD.
When Open Standard announced June 30 that the stablecoin was set to go live later in the year and that several dozen companies had signed up to use it, the company described OUSD as a “money movement stablecoin.”
Stablecoins settle in seconds at a fraction of the cost of traditional cross-border wire transfers.
Mastercard announced in August that it launched a partnership with stablecoin infrastructure network Borderless.xyz to examine how Mastercard Crypto Credential’s standards-based framework can support trusted transactions in cross-border stablecoin payments.
Also in August, Mastercard announced that it completed its acquisition of cryptocurrency infrastructure platform BVNK.