Lawmakers introduced the bipartisan Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, earlier this year to creates a regulatory framework for stablecoins in the US.
Mastercard announced that it will give merchants the option to receive payments in stablecoins amid increasing global regulatory clarity on the digital assets that are usually pegged to fiat currencies.
In a press release, Mastercard said it was partnering with firms including payments processor Nuvei and stablecoin issuers Circle and Paxos to enable the payments in the cryptocurrencies.
