Mastercard and Circle Expand Stablecoin Settlement in EEMEA with USDC and EURC

Mastercard and Circle are expanding their partnership to introduce USDC and EURC settlement across Eastern Europe, the Middle East, and Africa (EEMEA). This marks the first time acquirers in the region will be able to settle transactions directly in stablecoins, bridging the gap between blockchain-native digital assets and traditional commerce infrastructure.

The initiative will debut with Arab Financial Services (AFS) and Eazy Financial Services, enabling them to settle payments in fully reserved, regulated stablecoins. By doing so, acquirers can streamline settlements with merchants, reduce friction in high-volume transactions, and strengthen liquidity for digital trade in emerging markets.

Mastercard’s Strategic Move

“This is a key move for Mastercard. Our strategic goal is to integrate stablecoins into the financial mainstream by investing in the infrastructure, governance, and partnerships to support this exciting payment evolution from fiat to tokenized and programmable money. Through our expanded partnership with Circle, we are taking bold steps in integrating their innovative use across our global network. We know that trust is essential to scale, and we are proud to play a leading role by applying our decades of experience in security and compliance to the stablecoin space,” said Dimitrios Dosis, president for EEMEA at Mastercard.

Circle’s Perspective

“Expanding USDC settlement across Mastercard’s vast network of acquirers in Eastern Europe, the Middle East, and Africa is a pivotal step toward truly borderless, real-time commerce. Our expanded partnership with Mastercard will enable wider reach, global access, and scaled impact, so that USDC can become as ubiquitous as traditional payments. Together with Mastercard, we are advancing the role of stablecoins as a foundational tool for everyday financial activity worldwide,” said Kash Razzaghi, Chief Business Officer at Circle.

First Movers in the Region

AFS and Eazy Financial Services, the first to adopt the new settlement capability, stressed the importance of the move for regional competitiveness.

“As the first acquirer in the region to pioneer USDC stablecoin settlement, we are delivering a strategic and transformative solution. This innovation provides the future-ready infrastructure our clients need to stay competitive in an era of continuous market transformation,” said Samer Soliman, CEO of AFS.

“This collaboration with Mastercard and Circle to enable USDC settlement aligns with our mission to deliver faster, more secure, and more efficient payment solutions to our clients. This milestone sets a new standard for digital settlement in the region and reflects our commitment to driving financial innovation that meets the evolving needs of merchants and consumers alike,” said Nayef Al Alawi, Founder and CEO of Eazy Financial Services.

Building on Previous Collaborations

The expanded effort builds on earlier work between Mastercard and Circle, such as crypto card programs with Bybit and S1LKPAY, which already leverage USDC for settlement.

Beyond merchant payments, Mastercard is exploring real-world applications in remittances, B2B payments, and gig economy payouts through solutions like Mastercard Move and its Multi-Token Network (MTN).

A Broader Stablecoin Vision

By reinforcing regulatory alignment, scalability, and security through tools like Crypto Credential and Crypto Secure, Mastercard aims to ensure stablecoin transactions meet the highest compliance standards.

The company’s growing portfolio of supported stablecoins—ranging from USDC and EURC to Paxos’ USDG, Fiserv’s FIUSD, and PayPal’s PYUSD—underscores its vision of bridging digital assets with the financial mainstream.

As stablecoins gain traction across EEMEA, Mastercard’s expanded collaboration with Circle positions the company at the forefront of driving trusted, efficient, and borderless digital payments.