According to CoinMeta, Mastercard and the stablecoin infrastructure network Borderless will launch a pilot project to test how the Mastercard Crypto Credential framework can provide identity and compliance assurance for cross-border stablecoin payments through unified standards and verification signals, thereby reducing friction in approval, compliance, and risk management processes. In this pilot, Mastercard is not responsible for fund processing or settlement. Previously, Mastercard completed the acquisition of the stablecoin infrastructure company BVNK for $1.8 billion.