Mastercard selected Borderless.xyz and Keyrails as initial partners for the North American launch of its Stablecoin Security program ahead of global availability in 2027.

Tokens pegged to stable value, usually the US dollar, spanning issuers and reserves, depegs, and adoption by banks and payment networks.

Laws and rules for fiat-pegged tokens, from the US GENIUS Act to Europe's MiCA, covering reserves, licensing and yield restrictions.