Crypto

Mastercard to pilot stablecoin remittance trust checks with Borderless

Mastercard will begin a pilot project with stablecoin payments infrastructure firm Borderless to review trust and verification systems for cross-border stablecoin remittances. The project will test whether Mastercard’s Crypto Credential service can provide signals for approvals, regulatory compliance and risk management in cross-border stablecoin payments. Borderless said compliance issues hinder adoption. Mastercard will not handle fund processing or settlement in the pilot.

Crypto

Circle to launch Arc mainnet on Sept. 16 with 11 founding validators including Visa and BlackRock

Circle will open the public mainnet of its own blockchain, Arc, on Sept. 16. It named 11 institutions including Visa, Mastercard and BlackRock as founding validators. Circle said more than 100 developers are involved under a private mainnet, and the testnet processed over 500 million transactions across about 3 million wallets. It also reported second-quarter revenue of $701 million and net income of $48 million.