Overview
- Mastercard confirmed participants include Binance, PayPal, Ripple, Circle, Gemini and Paxos across exchanges, wallets, issuers and banks.
- The program targets near-term applications such as cross-border transfers, business-to-business payments and global payouts integrated with existing card rails.
- Companies will work directly with Mastercard teams to co-design products and collaborate in forums to align on standards and deployment.
- Reporting describes a private Multi-Token Network as a permissioned settlement layer linking regulated stablecoins and tokenized deposits, with banks such as JPMorgan and Standard Chartered cited as connected.
- Additional reports point to stablecoin settlement support and self-custody integrations, including a MetaMask-branded card, though those product details have not been fully detailed by Mastercard.