Crypto’s next chapter

Welcome to Inside the Circles, your scoop on the people, tech and trends shaping the digital economy and beyond.

The digital asset space is quickly evolving from experimental to essential. With the recent passage of the GENIUS Act in the U.S. and the EU’s MiCA framework taking effect, stablecoins are gaining new legitimacy — and a launchpad for scale, writes R. Jesse McWaters , Mastercard’s head of global policy, in a new blog.  

Mastercard is helping lead the charge, investing in trusted infrastructure like its Multi-Token Network and Crypto Credential to support compliance-first innovation and unlock stablecoins’ full potential in real-world payments, remittances and creator economies.  

The work to make crypto more accessible is echoed in the vision of Binance CEO Richard Teng , who brings decades of regulatory experience to the helm of the world’s largest crypto exchange. In an exclusive interview with the Mastercard Newsroom, Teng lays out a roadmap to mass adoption accelerated by the surge of institutional interest and the growth of crypto for remittances.   

On the product side, that utility is taking shape in dynamic new collaborations — including a just-announced effort between Mastercard and MoonPay to connect crypto wallets to Mastercard-branded cards. During a high-energy strategy session in Manhattan, the teams mapped out how stablecoin-powered payments could simplify digital commerce through easier on- and off-ramping and reimagine everyday transactions. Go inside the session here, and learn more about on-ramping and off-ramping crypto in our new 101.  

Experiences elevated 

Reflecting new consumer insights that show nearly three-quarters of cardholders say they feel their best when spending time on their passions, Mastercard last week unveiled a new suite of premium benefits called The Mastercard Collection. Built for cardholders of World, World Elite and the newly-created World Legend Mastercard (launching later this quarter in the U.S., followed by a global rollout), The Collection includes VIP access to top dining spots, exclusive concert and sports tickets, and smoother travel perks, from fast-track security lanes and lounge access to exclusive dining spaces coming soon to international airports. Cardholders and their families can enjoy these premium benefits at home and wherever their travels take them. 

“Our cardholders have access to curated experiences so they can embrace what matters most — quality time with loved ones in memory-making settings,” says Bunita Sawhney , Mastercard’s chief consumer product officer. Read more about The Collection here.  

Flying high after nearly 40 years 

Mastercard and American Airlines announced Monday that they are extending their partnership of nearly 40 years to enhance AAdvantage cardmember travel with more personalized rewards, seamless payments and exclusive experiences. Find out more here.  

Closing the action-ambition gap 

Gamifying sustainability? A new pilot project with eco-loyalty app Reewild , part of Mastercard’s Start Path startup engagement program, and the University College London rewarded students who made purchasing choices at participating retailers that reduced their carbon footprint. The PlanetPoints project, supported by Mastercard, matched itemized transaction data with carbon emissions data and displayed it back through the Reewild app, layering in points, corresponding in value to the most sustainable products, that were redeemable for different offers and rewards, such as bike rentals, food delivery discounts, or big-ticket raffles.  

Among the results? An 18.8% reduction in emissions from hot meals, and students also reported an intentional shift in behavior to shop at locations where they could receive points for purchases. Read more about how brands can lower their Scope 3 emissions while also driving loyalty and sales here.  

Watch out 

The Jonas Brothers joined Mastercard to honor those impacted by cancer with a new video accompanying their single “I Can’t Lose” that shows the band surprising superfans and loved ones affected by cancer with a private performance. You can share how you #StandUpWith Mastercard by tagging @Mastercard on the company’s YouTube and Instagram channels.   

By the numbers 

$485 billion 

That’s the estimated financial impact of fraud in 2024 — in part due to gen AI making it easier for bad actors to launch attacks. But new research by Mastercard and Financial Times Longitude explores how the payment industry is using AI to protect businesses and customers from fraud and outlines how businesses can further enhance their defenses. According to the survey of 300 senior fraud executives, 83% say they have significantly accelerated fraud investigations and reduced false positives in the past year. Download the report for more insights. 

ICYMI 

Doing well by doing good: Mastercard’s 2024 Impact Report, released last week, celebrates major strides and outlines areas of opportunity in empowering people, advancing prosperity and protecting the planet. Read more about the intersection of innovation and inclusion here.  

Appetite for disruption: Former oil exec Omar Rafii turned foodie frustration into fintech innovation with Krowd, the platform using personalization and payments to transform restaurant rewards. The company recently joined Start Path to power more innovation, including real-time instant discounts. Read more here.