Finance
Mastercard to modernise cross-border remittances with AI and stablecoins
Mastercard is accelerating efforts to modernise cross-border remittance systems by using AI and stablecoins. It aims to help banks and fintech companies connect multiple payment networks to speed up transfers and reduce costs. Pratik Khowala (프라틱 코왈라) said key priorities are speed, accuracy, trust and cooperation, citing long processing times and opaque fund movements as problems. Mastercard is expanding Mastercard Move with a multi-rail routing approach and added functions such as tracking, fraud risk assessment and settlement.
