Bridging TradFi and Crypto: A New Era for Cross-Border Payouts
In a move signaling the deepening convergence of traditional finance and digital assets, Mastercard and cross-border payments platform Thunes have forged a strategic alliance to integrate stablecoin wallet payouts into Mastercard’s global transfer network. Announced on the sidelines of the Singapore Fintech Festival, the partnership leverages Thunes’ Direct Global Network to deliver near real-time transfers to stablecoin wallets, harnessing the 24/7 liquidity and speed of regulated stablecoins like USDT and USDC. This collaboration expands Mastercard Move’s capabilities—already supporting payouts to over 10 billion endpoints in 200+ markets and 150 currencies—by adding stablecoin wallets as a seamless option alongside traditional bank accounts, cards, and cash pickups.
The timing couldn’t be more poignant. With global stablecoin transaction volumes surpassing $19.4 billion year-to-date and remittances hitting $800 billion annually—much of it in emerging markets plagued by high fees and delays—this partnership addresses a critical pain point: accessible, efficient cross-border money movement. By enabling banks, payment service providers (PSPs), and businesses to disburse funds directly to users’ stablecoin wallets, the duo aims to lower barriers for the unbanked, mitigate currency volatility, and unlock new use cases from gig economy payouts to supply chain settlements. As Pratik Bhayani, Global Head of Transfer Solutions at Mastercard, noted: “We’re adding stablecoin wallets to the mix to give end-users more choice and unlock possibilities for banks and PSPs as digital currencies grow.”
This isn’t Mastercard’s first foray into crypto—previous pilots with Meta and Immutable X have tokenized payments—but partnering with Thunes marks a scalable leap, potentially onboarding the “next billion end users” to the global economy, per Thunes COO Chloe Mayenobe. In a market where stablecoins already power 70% of crypto trades and remittances in regions like Southeast Asia and Latin America, this could accelerate adoption, especially as regulatory clarity emerges under frameworks like the EU’s MiCA and U.S. stablecoin bills.
The Mechanics: How Mastercard Move Meets Thunes’ Global Rails
At its core, the partnership fuses Mastercard’s robust payout infrastructure with Thunes’ “Smart Superhighway”—a network connecting over 2.5 billion bank accounts, mobile wallets, and now stablecoin endpoints across 140+ countries. Thunes’ recently launched Pay-to-Stablecoin-Wallets solution serves as the bridge, enabling seamless fiat-to-stablecoin conversions and disbursements without the friction of traditional rails.
Key operational highlights:
- Near Real-Time Settlement: Leveraging stablecoins’ blockchain speed, payouts clear in seconds—versus days for legacy wires—while maintaining compliance through regulated issuers.
- Multi-Endpoint Flexibility: Businesses can now choose: Send to a Visa card, local bank, cash pickup, or directly to a user’s USDC wallet, optimizing for cost and speed.
- Global Reach with Local Nuance: Covers 95% of the banked population, with emphasis on underserved corridors like Asia-Pacific remittances ($150B+ annually) and African gig payouts.
- Risk Mitigation: Integrates KYC/AML via Thunes’ APIs and Mastercard’s tokenization tech, ensuring secure, auditable flows.
For end-users, this means instant access to funds in a stable digital asset, convertible to local currency via on-ramps like MoonPay or local exchanges. Businesses benefit from reduced FX fees (up to 80% savings) and 24/7 availability, ideal for e-commerce refunds or creator economies. Thunes’ network, already processing $50B+ in annual volume, will now supercharge Mastercard Move’s crypto layer, potentially rivaling Visa Direct’s recent stablecoin pilot.
Strategic Implications: A Tipping Point for Stablecoin Mainstreaming
This alliance arrives amid a stablecoin renaissance. With Tether (USDT) and Circle (USDC) commanding $150B+ in market cap, and giants like Meta eyeing stablecoins for creator payouts to slash 30%+ fiat fees, the infrastructure is ripe. Mastercard’s move follows Visa’s playbook but amplifies it: Where Visa focuses on pilots, Mastercard-Thunes targets production-scale, reaching underserved markets where 1.4 billion adults lack bank access but hold mobile wallets.
Broader ripple effects:
- Financial Inclusion Boost: In regions like Vietnam (20M crypto users) or Nigeria (high remittance dependency), stablecoins bypass volatility, enabling instant, low-cost inflows for freelancers and migrants.
- Enterprise Adoption: E-commerce platforms (e.g., Alibaba’s stablecoin ambitions) and supply chains can settle cross-border in stable value, reducing $120B annual FX losses.
- Regulatory Tailwinds: Aligns with global pushes for stablecoin oversight, positioning Mastercard as a compliant bridge—crucial as U.S. bills debate issuer caps.
Challenges remain: Wallet interoperability, stablecoin depegging risks (e.g., UST’s 2022 collapse), and varying global regs could slow rollout. Yet, with Thunes’ 1,000+ PSP partners, scalability seems assured.
Key Players and Voices: Quotes from the Frontlines
| Stakeholder | Role | Key Quote |
|---|---|---|
| Pratik Bhayani | Global Head of Transfer Solutions, Mastercard | “With Mastercard Move, we already enable transfers in 150 currencies to over 10 billion endpoints… Now we’re adding stablecoin wallets to that mix.” |
| Chloe Mayenobe | President & COO, Thunes | “Collaborating with Mastercard Move… is another step forward in our mission to enable the next billion end users to take part in the global economy.” |
| Industry Analyst (via Fintech Singapore) | N/A | “This expands global transfer options for financial institutions, particularly in markets with limited access to traditional channels.” |
These voices underscore the partnership’s dual focus: Innovation for institutions, empowerment for users.
The Road Ahead: Stablecoins as the New Global Rails
Rollout begins in Q1 2026, starting with high-volume corridors in Asia and expanding to Latin America and Africa. Early adopters—PSPs like Remitly or e-commerce firms—could see 50% faster settlements, per Thunes’ benchmarks. As stablecoins evolve from niche to necessity, Mastercard-Thunes isn’t just enabling payouts—it’s rearchitecting global finance.
In a $3.8 trillion crypto ecosystem eyeing tokenized assets worth $16 trillion by 2030, this is more than a partnership; it’s a portal. For businesses, it’s efficiency unlocked; for users, borders blurred. The stablecoin era has arrived—stable, swift, and supremely scalable.