Mastercard is cementing its existing payments approach, and the implication is that crypto assets will overlay the global network, rather than replace it.
In an interview with The Big Whale , Christian Rau, the Head of Crypto for Europe at Mastercard, discussed crypto's role in Mastercard on September 2.
The company is embedding digital assets into its infrastructure and is remaining true to its 50-year-old mission.
"Our strategy hasn't changed in 50 years: enable people to pay and businesses to be paid, in a safe and compliant manner,"Rau said. "Crypto fits into this logic. We are not seeking to reinvent the system but to enrich it."
Gradual integration of crypto
Mastercard has already been offering on-ramp and off-ramp services, as well as payment cards that are tied directly to crypto accounts.
The company partners with players like MetaMask, Bitget, and MoonPay to enable the instant conversion of digital assets into cash at checkout, ensuring merchants only see local currency.
Non-custodial wallets are even more challenging, Rau said. With MetaMask, for example, Mastercard has built a system that relies on smart contracts to check the availability of funds in real time before any transaction is cleared— a verification process not unlike how a Bitcoin miner confirms transactions on a blockchain.
He said, "with MetaMask, we had to create an architecture where a smart contract verifies the availability of funds in real time."
Stablecoins as building blocks
Although stablecoins had already reached more volume through Mastercard than Mastercard was moving, Rau downplayed any notion of competition. "We consider them as a settlement technology," he explained.
"They can improve cross-border payments or reduce exchange rate risks. But they do not replace the services we provide, such as protection in case of disputes."
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Rau also made a distinction between performance claims about blockchain and the scale of Mastercard's operations.
"We process about 5,000 transactions per second, but the challenge is not just speed," he said. "It's the entire ecosystem around it — anti-fraud, compliance, recourse — that gives value to our network."
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Though Mastercard does not have a public in-house blockchain project, Rau did not rule anything out, "we prioritize interoperability with existing solutions. But if none meet our needs, we could consider it."
This story was originally reported by TheStreet on Sep 2, 2025, where it first appeared in the Innovation section. Add TheStreet as a Preferred Source by clicking here.
