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| Mastercard offers cards linked to cryptocurrency |
Credit card giant MasterCard has announced the launch of crypto-linked payment cards in the Asia Pacific region, causing a stir in the digital asset market.
MasterCard has partnered with three cryptocurrency service providers, Amber Group and Bitkub in Thailand, and CoinJar in Australia, to provide crypto payment cards that allow users to instantly convert their digital assets into traditional cash.
These companies will be the first cryptocurrency exchanges in the Asia Pacific region to join the company's global crypto program.
The Crypto Card Program is designed to make it easier for crypto companies to offer secure and compliant payment cards in the marketplace as consumers increasingly seek to use cryptocurrencies safely and efficiently to fund everyday transactions.
The company said it does not send cryptocurrency directly to merchants. Cardholders can now convert their cryptocurrency into traditional currencies that can be used anywhere in the world where Mastercard is accepted, both online and offline.
Although the company did not mention what cryptocurrency it supports. He chose Bitcoin and Ethereum as the assets accepted by some traders. But they are not widely accepted.
Based on corporate research for the Asia Pacific region. 45% of those surveyed said they will use cryptocurrency in the next year.
MasterCard is very active in the cryptocurrency market
Influencers are driving the growing attraction of Bitcoin and other cryptocurrencies. Although cryptocurrency is enjoying new legitimacy as an investable asset class, the payment movement is developing much more slowly.
Mastercard has its own brand across the cryptocurrency market. It's about waiting for digital assets to become a means of payment one day.
Last month, the credit card giant announced a plan for US partners to offer loyalty rewards in cryptocurrency.
and collaboration with Bakkt's digital asset platform. Mastercard has announced plans to enable US customers to buy and sell cryptocurrency through digital wallets.