Mastercard joined a pilot project aimed at improving the reliability and transparency of cross border stablecoin payments. In partnership with Borderless.xyz, the company will test Mastercard Crypto Credential, a service designed to simplify participant verification and reduce compliance costs.
Borderless.xyz and Mastercard launched a joint pilot focused on building secure infrastructure for cross border stablecoin settlements. As part of the initiative, the companies will explore how Mastercard Crypto Credential can be used to verify the trustworthiness of payment participants and establish common standards across the digital asset ecosystem.
As stablecoins gain wider adoption in international payments, demand continues to grow for mechanisms that allow participants to assess counterparties’ reliability and regulatory compliance in advance. Mastercard Crypto Credential was designed to address that need through standardized trust signals that can be used for customer verification, risk management, and regulatory compliance.
Mastercard said the solution is intended to improve the transparency and predictability of transactions across different blockchain networks. Borderless.xyz, in turn, will provide its network of stablecoin payment operators for the pilot, allowing the companies to test the system in real world cross border payment scenarios.
Borderless.xyz is a U.S. fintech company that developed an API platform for cross border stablecoin payments. The platform enables businesses to connect to a network of licensed liquidity providers and banking partners without integrating with each provider individually. The company’s infrastructure spans more than 94 countries, supports more than 63 fiat currencies, and brings together 14 licensed payment service providers.
Kevin Lehtiniitty, CEO and co-founder of Borderless.xyz, said the main challenge for stablecoin payment operators isn’t processing transfers but scaling compliance procedures. According to him, each new partner requires the verification process to begin from scratch. Mastercard’s new approach, based on a single audit model, is expected to eliminate that issue, much like the correspondent banking system did in the past.
Raj Dhamodharan, Mastercard’s Executive Vice President of Blockchain and Digital Assets, said the companies began working together through the Mastercard Start Path startup program and continued expanding their collaboration as the digital asset market evolved. The latest phase of the partnership is intended to strengthen trust in stablecoin payments as the network continues to grow.
Several members of the Borderless.xyz network will also participate in the pilot:
- Infinia
- Walapay
- Koywe
Many of these companies previously participated in the Mastercard Start Path program. They will become among the first stablecoin payment operators to test a network scale compliance model based on a single audit using Mastercard Crypto Credential.
Mastercard began testing P2P transactions using Mastercard Crypto Credential in May 2024. Support for non-custodial crypto wallets was added in November 2025. Earlier that April, the company launched a platform to support stablecoin transactions, and in 2026, it continued expanding infrastructure for stablecoin payments.
