Mastercard has tokenised 30% of its transactions in 2024, marking a significant step in its efforts to innovate the payments ecosystem. The company highlighted its commitment to supporting blockchain and digital currencies, working alongside various crypto players to allow consumers to buy and spend crypto on cards where Mastercard is accepted.

The payment giant also acknowledged the growing competition from stablecoins and other cryptocurrencies, which it views as potential disruptors of traditional finance. Mastercard stated that digital currencies could challenge existing payment products by offering benefits such as accessibility, efficiency, and immutability, especially as regulatory frameworks continue to develop.

In addition to its blockchain efforts, Mastercard reported$28.2 billion in net revenue for 2024, a 12% increase from the previous year. The company's recognition of stablecoins and crypto as serious competitors reflects the shifting landscape of the global payments market.

Stablecoins saw significant volume growth in 2024, with transfer volumes exceeding$27.6 trillion, surpassing the combined volumes of Visa and Mastercard. While bots have contributed to the spike, experts assert that their use enhances market efficiency rather than diminishing the volume.