Mastercard launches Stablecoin Security for payment risk assessment

Mastercard has introduced Stablecoin Security, a risk intelligence solution for stablecoin payments. Borderless.xyz and Keyrails are its first partners. The company announced the launch at Money20/20 USA.

Assessing risk across the payment lifecycle

The solution is designed to help financial institutions detect fraud, scams, sanctions exposure, and other indicators of financial crime. It covers the stablecoin payment lifecycle, including the stage before funds are sent on-chain. Mastercard is targeting cross-border and business-to-business (B2B) payments, where stablecoins are playing an increasing role.

A study by the Bank for International Settlements examined 593 million stablecoin transfer events across 141 million Ethereum transactions in 2025. It found that almost 60% of transfers involved several steps rather than a direct payment between two parties. This structure can make it harder for financial institutions to track risk throughout a payment, including supplier payments, global trade settlements, and transfers between countries and currencies.

Stablecoin Security combines Mastercard payment intelligence with blockchain analytics to provide visibility at different stages of a transaction. Ann Johnson, executive vice president of Security Solutions at Mastercard, said combining the two data sets extends the company’s fraud and risk capabilities to digital asset payments.

Integration with existing workflows

The solution is delivered through a platform-agnostic API. It assesses factors such as transaction context, the origin of funds, exposure to restricted parties, and scam indicators. It provides intelligence for both the fiat and stablecoin stages of a payment, including a risk score before the payment is finalised.

Institutions can feed the results into existing fraud, compliance, and case management workflows. This allows them to support stablecoin payments without building a separate risk framework. Mastercard’s example is a US coffee retailer buying beans from a supplier in Brazil. Before funds are sent, the bank checks the transaction through Stablecoin Security to determine whether it can proceed or needs further review.

Partners and expansion plans

Both Borderless.xyz and Keyrails participate in Mastercard’s Start Path Blockchain and Digital Assets programme. Keyrails focuses on high-value cross-border trade payments, particularly in emerging markets. Borderless.xyz connects financial institutions to licensed stablecoin providers in more than 113 countries and 72 currencies. It also manages payment operations and routes each transaction to an appropriate provider.

Alex Garn, chief product officer at Borderless.xyz, said the collaboration aims to give institutions the context needed to manage risk across providers, markets, and currencies without adding operational complexity.

Mastercard plans to expand the reach and adoption of Stablecoin Security in 2027, including through BVNK, a stablecoin infrastructure provider it acquired in August 2026. The launch adds to Mastercard’s digital asset capabilities, which include Mastercard Crypto Credential and Crypto Secure. The company says these initiatives support its aim to bring trust, security, and transparency to stablecoin and digital asset transactions.