By FVP Trade on The Capital
While trying to stay ahead of the game, payment provider Mastercard has been making inroads into the crypto sector for the past few months.
Their enthusiasm surrounding the future of cryptocurrency appears to be building, as they recently reported that their plans to speed up their digital assets program.
This will enable issuers to quickly bring protected and compliant cards to the market that will allow users to transact with digital currency.
In the announcement it confirmed that Wirex will be the first to join Mastercard’s principal membership program, enabling them to issue crypto-native cards for consumer use.
Mastercard Expands Its Crypto Program As the Market Continues to Grow.
According to the official statement today, Mastercard is presently taking steps to speed up the programme of its crypto card partner program.
This programme is one aspect of their blockchain development strategy, and it involves onboarding a large number of strategic partners. They would all be able to assist with the advance and adoption of digital assets by increasing the simplicity at which consumers can transact with them.
In the statement, the company announced that they are currently “supercharging” this program by supplying current and future partners with access to everything they require to get to market quickly.
They said, “Supercharging the partnership experience, cryptocurrency and crypto card partners are invited to join Mastercard’s Accelerate program for emerging brands and fintech, giving them access to everything they need to grow quickly.”
They additionally reported that Wirex is the first company to be a principal membership, which will enable them to issue cards using Mastercard’s payment infrastructure directly.
By utilising the cards, consumers can pay for products or services at millions of Mastercard merchants worldwide. It will also offer a rewards program that clients can earn up to 1.5% cashback.
The Cryptocurrency Market Is Maturing Rapidly.
While talking about the Wirex collaboration and the company’s plans to speed up its cryptocurrency payment programmes, Raj Dhamodharan the Executive Vice President of Digital Asset and Blockchain Products at Mastercard, explained that the crypto markets are maturing rapidly.
He said,
“The cryptocurrency market continues to mature, and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy.”
Since many experts view digital assets as a better option to fiat currencies as a method of payment, the growth and expansion of these cards could help support further mainstream adoption.
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Mastercard Partners With Wirex to Bring a Crypto Card to Their Customers was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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