Key facts
- Mastercard is expanding its settlement infrastructure to support regulated stablecoins, including Ripple's RLUSD.
- Mastercard's expansion allows for 24/7 on-chain settlement across eight blockchain networks.
- Visa, Stripe, and Coinbase are involved in developing stablecoin infrastructure for cross-border settlements.
- Movement has secured licensed payment rails in the US, Canada, and the EU for stablecoin settlement.
- The European Banking Authority and New York's financial watchdog will share stablecoin data.
- Ripple's RLUSD stablecoin is now available on over 40 blockchain networks.
- Paybis reported stablecoin transaction volume at 86% of total crypto volume in April 2026.
- Paybis recorded $2.81 billion in stablecoin volume in May 2026, a 135% year-over-year increase.
- Lava Card launched a secured Visa credit card offering Bitcoin rewards.
- Fireblocks will provide custody and tokenization infrastructure for Last Mile Production's LMCX Carbon Token.
Mastercard is significantly expanding its global settlement infrastructure to incorporate regulated stablecoins and multiple blockchain networks, including Ripple's RLUSD and the XRP Ledger. This expansion allows for on-chain settlement 24/7 across eight blockchain networks, with initial deployments focused on the US and Latin America. Visa, Stripe, and Coinbase are also participating in the development of stablecoin infrastructure aimed at facilitating cross-border settlements with continuous operational capacity.
Movement has enhanced its stablecoin payment capabilities by securing access to licensed payment rails in the US, Canada, and the EU. This move is intended to bridge traditional banking systems with stablecoin settlement, enabling faster cross-border transfers and remittances. The company has also completed a token buyback and launched Circle's USDCx on its network. In parallel, Ripple's RLUSD stablecoin has achieved a substantial expansion, becoming available on over 40 blockchain networks, including Ethereum layer-2 solutions like Base and Optimism, and the XRP Ledger EVM sidechain. This broad accessibility is facilitated by Wormhole's Native Token Transfers (NTT) framework, allowing for direct cross-chain movement of the stablecoin. RLUSD currently holds a market capitalization of $1.72 billion and is being integrated for various use cases such as payments, settlement, and tokenization.
Regulatory bodies are also increasing their focus on stablecoins. The European Banking Authority and New York's Department of Financial Services have signed a Memorandum of Understanding (MOU) to facilitate data sharing regarding stablecoins, covering aspects like volume and holder information. This collaboration aims to bolster supervision and identify potential market risks, aligning with the EU's Markets in Crypto-Asset (MiCA) Regulation. On the transaction volume front, stablecoin usage is experiencing a dramatic surge. Paybis reported that stablecoin transaction volume reached 86% of its total crypto volume in April 2026, a significant increase from 12% in July 2023, with business transactions constituting 97.8% of this volume. In May 2026, Paybis recorded $2.81 billion in stablecoin volume, marking a 135% year-over-year increase, primarily driven by sectors including Digital Goods, Technology, Retail, and Fintech.
Further developments in the digital asset space include Lava Card's launch of a secured Visa credit card that offers Bitcoin rewards on all purchases. Users can fund this card using USD or stablecoins and have the option to borrow against their Bitcoin holdings. The card's design aims to integrate stablecoin payments into mainstream spending without necessitating changes to existing transaction methods. Additionally, Fireblocks is partnering with Last Mile Production to provide institutional custody and tokenization infrastructure for the LMCX Carbon Avoidance Token, ensuring its operational controls meet institutional investor requirements for traditional commodity exposure. Mastercard's CEO, Michael Miebach, commented on broader economic trends, noting that spending growth is observed across all income bands, suggesting widespread economic resilience.